COVID-19: Mapping Tourism Exposure in European SMEs and Corporate CLOs
In this commentary, DBRS Morningstar explores the relevance of the tourism sector to various European economies and the exposure to the sector in the various structured credit transactions.Key highlights in the commentary include
-- A review of the importance of the tourism sector to different European economies.
-- A snapshot of key tourism statistics, including the contribution of the sector to each of the relevant economies.
-- A review of the level of exposure to the tourism sector in European small and medium-size enterprise collateralised loan obligations (CLOs), European middle-market CLOs, and synthetic corporate securitisations.
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