NEW YORK–(BUSINESS WIRE)–#creditratingagency–KBRA releases a recap of the annual CLO Conference hosted by the Loan Syndications & Trading Association (LSTA) and DealCatalyst, which took place at the Marriott Marquis Hotel in New York on April 28-29. With up to 1,700 attendees, the conference comes on the heels of record U.S. CLO issuance of around $200 billion in 2024. This strong pace continued in first-quarter (Q1) 2025 with approximately $45 billion in total volume, as issuers pushed spreads to multiyear tights. The evolving U.S. tariff policy underscored virtually every panel and conversation, with dealers and other participants generally adopting a “wait-and-see” approach, as uncertainty has already pushed CLO spreads wider, clouding the issuance pace.
In this recap, we provide themes and highlights from select panel sessions, which focused on broadly syndicated loans (BSL), middle market (MM) CLOs, leveraged loans, direct lending, and private credit.
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Recent Publications
- Structured Credit Trend Watch: Tariff Uncertainty Clouds Issuance
- Private Credit: BDCs, Asset Managers, and MM CLOs Square Off Against Trade Tensions and Market Volatility
- Private Credit: Tariffs and Market Volatility Impact on Private Credit Corporates
- Private Credit: The ABCs of Revolving Credit Facilities
- An Inside Look at Recurring Revenue Loan ABS
- Recurring Revenue Loan Metrics Dashboard: Q4 2024
- 2025 Structured Credit Sector Outlook: Favorable Currents for Sustained Flow
About KBRA
KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.
Doc ID: 1009276
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Sean Malone, Senior Managing Director, Co-Head of Global Structured Credit
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Eric Hudson, Senior Managing Director, Co-Head of Global Structured Credit
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Yee Cent Wong, Senior Managing Director, Lead Analytical Manager, Structured Finance Ratings
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Eric Thompson, SMD, Global Head of Structured Finance Ratings
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