CLOs have significantly reduced their exposure to Ocean Rig, the offshore drilling contractor that announced a restructuring agreement Tuesday, according to Wells Fargo Securities.

U.S. collateralized loan obligations issued since the financial crisis collectively hold 10% of Ocean Rig’s $3.2 billion in senior secured credit facilities, analyst David Preston said in a report published Wednesday. But the $330 million in aggregate holdings is down by half from February 2016, when they held $768 million.

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