The Alchemy of CDO Credit Ratings

Preprint OPEN
Efraim Benmelech; Jennifer Dlugosz;
  • Subject:
    • jel: jel:G01 | jel:G24 | jel:G28

Collateralized Loan Obligations (CLOs) were one of the largest and fastest growing segments of the structured finance market, fueling the 2003-2007 boom in syndicated loans and leveraged buyouts. The credit crisis brought CLO issuance to a halt, and as a result the leve... View more
  • References (1)

    Ashcraft, A., Schuermann, T., 2008, Understanding the securitization of subprime mortgage credit, Working paper, Federal Reserve Bank of New York.

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