Fitch Publishes CLO Indenture Abstract & New Issue Report for Anchorage Capital CLO 2013-1, Ltd./LLC
Fitch Ratings has published its CLO Indenture Abstract and a new issue report for Anchorage Capital CLO 2013-1 Ltd./LLC.
Fitch's CLO Indenture Abstract describes important features from a CLO indenture and provides commentary on how these features work and comparisons with other recently issued CLOs. The report includes Fitch's commentary related to:
--Collateral quality tests;
--Priority of payments;
--Conditions to reinvestment;
--Events of default;
--Manager replacement provisions;
--Indenture amendments; and
The new issue report is available at 'www.fitchratings.com' or by clicking on the above link. The CLO Indenture Abstract is available by clicking on the below link.
Additional information is available at 'www.fitchratings.com'.
The sources of information used to assess these ratings were the transaction documents and other materials provided by the arranger, J.P. Morgan Securities, LLC, and the public domain.
Applicable Criteria & Related Research:
--'Global Structured Finance Rating Criteria' (May 24, 2013);
--'Global Rating Criteria for Corporate CDOs' (Aug. 8, 2012);
--'Global Criteria for Cash Flow Analysis in CDOs' (Sept. 13, 2012);
--'Criteria for Interest Rate Stresses in Structured Finance Transactions' (Jan. 25, 2013);
--'Counterparty Criteria for Structured Finance Transactions' (May 13, 2013).
Applicable Criteria and Related Research:
Global Structured Finance Rating Criteria
Global Rating Criteria for Corporate CDOs
Global Criteria for Cash Flow Analysis in CDOs
Criteria for Interest Rate Stresses in Structured Finance Transactions
Counterparty Criteria for Structured Finance and Covered Bonds
Posted: August 12, 2013