Report title: The Risks of Undercollateralisation Event of Default Triggers in European CLOs - Amended
from Fitch Research
8 page (4900 word) report published Jul 03, 2009

Price $275.00 available for immediate download
Report Overview
 
Search Inside
 
About Fitch Research

... typically have a number of defined events of default (EoD) or termination events. These usually include the insolvency of the issuer, illegality (or the violation of a law by the issuer), the failure to pay interest on the most senior class of notes when due, or if a significant undercollateralisation occurs where the ratio of collateral to senior notes falls below a predefined level. Due to the accelerated deterioration in the credit quality of European leveraged borrowers, investor concern has been sparked over the possibility of leveraged loan defaults and downgrades triggering an undercollateralisation event of default. Therefore, Fitch Ratings has decided to publish an analysis of the ability of Fitchrated European CLOs to withstand asset deterioration. This report explains the mechanics of overcollateralisation (OC) event of default triggers as well as Fitch's `CCC' rating definitions. It then details the sensitivity of each Fitchrated...

Report Type: Special Report
Free Sample: Click Here to Download
Format:
PDF Adobe Acrobat


Enter the keyword(s) which you would like to search for within this document and click "Search"  


Price: $275.00



  Can't Decide?

Purchasing premium research sight unseen can be intimidating. At Alacra we want you to know what you are getting. Visit our FAQ or ask our Customer Service Team any questions about the report you are considering purchasing.