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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    Market Reports    6 December 2018
  • Cheaper deals

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    Market Reports    5 December 2018
  • Print and sprint

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    Market Reports    4 December 2018
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  • Proportional approach

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  • SCI Start the Week - 3 December

    A review of securitisation activity over the past seven days

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    News    3 December 2018
  • UK SLABS slated

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  • Softening activity

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    Market Reports    22 November 2018
  • CRT tranche downgraded

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    Market moves    21 November 2018
  • Hesitant appetite

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    Market Reports    21 November 2018
  • Buyer fatigue

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    Market Reports    20 November 2018
  • Long goodbye

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    News Analysis    20 November 2018
  • SCI Start the Week - 19 November

    A review of securitisation activity over the past seven days

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    News    19 November 2018
  • Winding down?

    US CLO market update

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    Market Reports    15 November 2018
  • SCI Start the Week - 12 November

    A review of securitisation activity over the past seven days

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  • Unpredictable factors

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  • Midterm market

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    Market Reports    8 November 2018
  • Market moves update

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  • SCI Start the Week - 29 October

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    News    29 October 2018
  • Mixed paper

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    Market Reports    26 October 2018