CDO

A CDO is a collateralized debt obligation or collateralised debt obligation known collectively as CDOs. CDOs are a type of asset-backed security or structured credit product that offers exposure to the credit of a portfolio of fixed income assets, such as corporate or government debt, loans, asset-backed securities (ABS), including mortgage-backed securities (MBS) such as CMBS and MBS, known as CDOs of ABS or ABS CDOs, or other CDOs, known as CDO-squared or CDOs of CDOs. CDOs can be cashflow CDOs (referencing real assets) or synthetic CDOs (referencing credit derivatives, such as CDS) or hybrid CDOs (a mix of cashflow and synthetic). Typical CDOs divide the credit risk among different tranches: senior tranches (rated AAA), mezzanine tranches (AA to B) and equity tranches (unrated). Losses are applied in reverse order of seniority and so junior tranches offer higher coupons to compensate for the added risk. However, synthetic CDOs can be structured to offer single-tranche CDOs as well.

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  Moody's reports that the credit quality of Trups CDOs continued to improve in 2015 due to deleveragi...

  News Round-up    8 March 2016

• Oaktree targets Aussie growth

  Oaktree Capital Group has opened an office in Sydney, Australia. Byron Beath has joined the firm as...

  Job Swaps    8 March 2016

• SCI Start the Week - 7 March

  A look at the major activity in structured finance over the past seven days

  Pipeline With many market participants decamped to Las Vegas for the industry conference, pipeline...

  News    7 March 2016

• Associations confirm STS support

  AFME, the European Fund and Asset Management Association (EFAMA), the International Capital Market A...

  News Round-up    3 March 2016

• Sky Road, Virtus link products

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  News Round-up    2 March 2016

• Structured credit analyst promoted

  Moody's has named Al Remeza associate md and head of its US structured credit new ratings team withi...

  Job Swaps    1 March 2016

• SCI Start the Week - 29 February

  A look at the major activity in structured finance over the past seven days

  Pipeline The number of ABS deals joining the pipeline slowed last week. The distribution across sec...

  News    29 February 2016

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  Job Swaps    26 February 2016

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  News    25 February 2016

• US CLO spike

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  SCIWire    24 February 2016

• FSC, RiverNorth unlock horns

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  Job Swaps    23 February 2016

• CRE CDO transferred

  RE CDO Management has assigned its interest in the collateral management agreement for Sorin Real Es...

  Job Swaps    22 February 2016

• SCI Start the Week - 22 February

  A look at the major activity in structured finance over the past seven days

  PipelinePipeline entrants were dominated by ABS issuers last week. A handful of CDOs/CLOs and CMBS d...

  News    22 February 2016

• Trups defaults keep low

  Combined defaults and deferrals for US bank Trups CDOs remained at 17.4% at the end of January, acco...

  News Round-up    19 February 2016

• Euro ABS/MBS split

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  SCIWire    18 February 2016

• ABS trader recruited

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  Job Swaps    17 February 2016

• SCI Start the Week - 15 February

  A look at the major activity in structured finance over the past seven days

  Pipeline As with the previous week, pipeline additions last week were dominated by ABS. There were...

  News    15 February 2016

• SCI Start the Week - 8 February

  A look at the major activity in structured finance over the past seven days

  Pipeline Pipeline additions were heavily skewed to ABS last week. A total of 11 ABS deals were ad...

  News    8 February 2016

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  Patriarch Partners is stepping down as collateral manager of Zohar CDO 2003-1, Zohar II 2005-1 and Z...

  Job Swaps    8 February 2016

• SCI Start the Week - 1 February

  A look at the major activity in structured finance over the past seven days

  Pipeline The pipeline was slightly quieter last week as fewer deals joined and fewer deals left. At...

  News    1 February 2016

• Law firm promotes SF pros

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  Job Swaps    28 January 2016