Leveraged Loan Insight & Analysis – 2/24/2020

Oil and gas is the top defaulted sector
in U.S. CLOs as of January


At the end of January 2020, oil & gas, aerospace and defense, and mining were the top defaulted sectors in active US CLOs on a volume basis. Oil and gas had US$1.06bn of loan debt in 642 CLOs, of which US$602m is McDermott loan debt. Aerospace and defense had US$729.4m across 401 CLOs, the majority of which were Constellis loans, and mining had US$506bn of loan debt across 268 CLOs, with Murray Energy as the primary loan.