The market for CDOs of leveraged loans remains healthy and the next year should see further growth, according to a report by Standard & Poor’s. Mike Nicholson, credit analyst at Standard & Poor’s Structured Finance Ratings group in London, commented: ‘Standard & Poor’s rated 12 CLOs that closed in 2003, compared with seven in 2002 and six in 2001. Of the 12 transactions, six transactions were repeats, and three were first-time CLOs by managers with previous CDO experience.’ The report notes that LBO volume has increased for the fifth straight year. Leveraged loans are becoming riskier, with a greater proportion rated ‘B’. However, ratings and credit estimates on CDOs of leveraged loans have shown strong stability, being considerably less volatile than European corporates in general.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.