Interest in hybrid securitisations with leveraged loan CDSs grows
Hybrid collateralised loan obligations (CLO) deals with a leverage loan credit default swap (CDS) component are increasing in number, according to Vishwanath Tirupattur, a New York-based vice-president at Morgan Stanley, who spoke at Fitch Ratings’ annual credit derivatives conference, held in New York last week.
Despite some industry scepticism about the development of a robust leveraged loan credit default swaps (CDS) market, Tirupattur believes there is ample reason for buyers of protection to enter the market and provide liquidity once standardised documentation is
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