CDOs/CLOs

CDO shop Aladdin Capital Holdings started a film financing unit and a broker-dealer as part of an expansion effort outside of CDOs, according to a Bloomberg report.

Fitch Ratings expects that in the near to medium term, retail will represent a growing proportion of overall defaults in the CMBS sector.

Standard & Poor's will be supplementing its process for gathering information about the systems, personnel, and other resources available to managers of S&P-rated CLO deals.

A growing number of companies are looking to amend their covenants to give them the flexibility to avoid a default.

Securities Litigation and Consulting Group (SLCG) hired Joseph Prendergast as principal in its Virginia office.

As part of the U.S. government's Financial Stability Plan, the Department of the Treasury and the Federal Reserve Board just announced additional terms that would clarify the application of the Term Asset-Backed Securities Loan Facility (TALF).

VTB Capital structured the first rated cash CLO of non-SME corporate loans and bonds with the ultimate risk located in the Russian Federation.

The U.K. government announced further details regarding the implementation of its Asset Protection Scheme.

The outlook for the securitization market in 2009 is bleak. Problems related to ABS are manifold and a recovery of the securitization market is not yet in sight. On the one hand, the future prospects of the securitization business highly depend on a stabilization of the financial industry overall. On the other hand, the credit cycle downturn will clearly test the solidity of European structured finance notes. Uncertainties related to ABS are high. An apparent example for the current market dislocation is the CLO sector - European leveraged loan CLOs are on the radar screens as undercollateralization is imminent.

Steven Hilfer has joined Experian as senior director of business development to support the firm’s capital markets business.