Collateralized loan obligations were once easily overlooked by investors who might have confused them with similar sounding alphabet soup investments that stumbled badly during the crisis. But CLOs are getting a well-deserved second look. Read on to learn more.
The $770 million transaction is also more concentrated in terms of obligors than MassMutual's prior deal, though more of these corporate obligors have investment-grade ratings, resulting in a lower WARF.
Monthly repayment rates, a key credit metric, are improving, but Ally Financial's second dealer inventory financing transaction of the year includes fewer dealers from its highest-ranked internal credit tier.
Industrywide, car sales were down last year, but there were record purchases of Civics and brisk second-half sales of the redesigned Accord; this is reflected in the model concentrations of HAROT 2018-2.