Moody’s says new CLO issuance surges by $100bn in H1 2024

Rating agency identifies market bifurcation, notes weakest credits are being left out of activity.

Issuance of collateralised loan obligations surged to $100 billion in the first half this year, and the market has split into two, according to a Moody’s report, with the weakest credits unable to improve their maturity profiles.

Moreover, the report finds that although volume continues to grow, the weakest credits are unable to improve their maturity profiles.