European Structured Credit: Emerging from the COVID-19 Pandemic
In this commentary, we lay out our rationale for removing any remaining adjustments to expected performance in our analysis of European small and medium-size collateralised loan obligation transactions that were put in place at the height of the coronavirus pandemic in May 2020.Key highlights include:
-- A review of recent developments in the tourism, travel, and hospitality sectors; and
-- A description of other macro and geopolitical risks that could undermine the post-pandemic recovery efforts.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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