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Defaults and Deferring Marginally Down
Fifteen CLOs had exposure to at least one defaulted or deferring issuer at the end of August 2024. Average defaulted and deferring exposure across middle market (MM) CLOs decreased to 0.5%, 10 basis points (bps) lower compared to last month. In August, two new defaulted or deferring issuers were reported. This was balanced by the removal of five prior defaults held in deals that were redeemed or reset. Additionally, one issuer was no longer reported as defaulted and two defaulted issuers were sold from the portfolio.
Latest news
US leveraged loans returns turn negative in October
The Bloomberg US Leveraged Loan Index (Ticker: LOAN) has returned -0.26% this month through October 21, reducing its year-to-date return…
M&A activity begins to tick upward
In the third quarter of 2026, acquisition-linked loan volume across North America and Europe reached about $47 billion, up from $30.6 billion in Q2 and $29.5 billion a year ago.
