Overall credit quality across U.S. middle market (MM) CLOs under Fitch Ratings’ surveillance remained stable throughout 2023 with muted defaults, while exposure to assets rated ‘CCC+’ or below increased, according to the latest U.S. MM CLO Snapshot. The quarterly report is accompanied by the Fitch U.S. MM Leveraged Loan CLO Tracker, which provides, in an Excel spreadsheet, expansive deal-level information of various performance metrics as well as deal and manager overlap.
(Past performance is no guarantee of future results.)
Latest news
European mid-market direct lending margins face steady compression since 2024
European mid-market direct lending margins have seen consistent compression over recent years but recorded a slight increase in the second quarter of 2026…
US leveraged loan issuance rebounds in September
Following three consecutive months of declining issuance, the US leveraged loan market has reversed course in September. Approximately $48.7b of…
Reversion to the Mean
Climbing toward the average is a very different story than surpassing it.