Defaulted and deferring exposure across MM CLOs remained low at 0.7% in 1Q23, while deferrables stood at 6.4%. Exposure to assets rated ‘CCC+’ or below by Fitch Issuer Default Rate Equivalency Rating, as described in Appendix 5 of Fitch’s CLOs and Corporate CDO Rating Criteria, registered at 15.8%.
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(Past performance is no guarantee of future results.)
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Private Credit Defaults 101: Back to School
As Labor Day approaches, the unofficial end of summer is upon us. But, before we get too sad, there is also the familiar back-to-school energy.