NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases its Structured Credit 2021 Sector Outlook, which discusses recent structured credit trends, themes for leveraged loans and corporate credit, as well as factors that may affect structured credit performance next year.
While we continue to stare down one of the most uncertain periods of the last decade, KBRA believes it is important to look forward, reflecting on lessons learned from a challenging year and acknowledging the uncertainties we still face. The performance of structured credit products and underlying corporate loans will continue to be impacted by the economic fallout from new waves of COVID-19 infections and lockdowns, the likelihood of new rounds of stimulus, and the availability, distribution, and effectiveness of a vaccine. Further, the aforementioned factors in aggregate will influence corporate revenues, interest coverage, and the shape and duration of the overall economic recovery.
In this report, KBRA highlights our 2021 issuance forecast for U.S. broadly syndicated loan (BSL) and middle market (MM) collateralized loan obligations (CLOs), European BSL CLOs, U.S. refinancing (CLO-R) activity, and securitizations of bank and insurance trust preferred securities collateralized debt obligations (TruPS CDOs).
We also provide a list of structured credit reports focused on recent new issue, pre-sales, research, and surveillance.
About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.