CDOs

Kroll assigned an AA+ to the Class A-1 tranche of EJF’s $351 million TruPS transaction, up two notches from AA- on the sponsor's prior transaction.

Eagle Point's CEO criticized "hyperbole" about growing risks in leveraged loans and CLOs, noting the benefits that price volatility can present to equity buyers.

The structured credit specialist will more than double its $2.9 billion in assets by acquiring a portfolio of three collateralized loan obligations that Trimaran Advisors runs from KCAP Financial.

According to presale reports, PGIM is marketing a $509.5 million Dryden 61 CLO transaction in the states, while also prepping a €411 million Dryden 66 Euro CLO portfolio.

The firm's risk profile has not altered, executives said on a third-quarter earnings call Wednesday; it remains "appropriately cautious."

The €411 million deal puts it in the small club of UK managers that have completed three or more transactions in 2018.

The New York-based firm is adding 4.9 years to the reinvestment period of the $518.6 million Neuberger Berman CLO XVIII.

The London-based manager is including two classes of fixed-rate notes, including a rare triple-A rated nonvariable-rate tranche, in its €412 million Contego VI DAC portfolio.

It seems a lot of CLO managers who were worried about competing amid heavy supply in the fourth quarter have put issuance on hold until 1Q 2019.

S&P also upgraded five more senior tranches of the deals citing paydowns, which in one CLO was accelerated by the diversion of interest from sub notes.