
Conversations: Fighting the Fed with Armen Panossian, Danielle Poli, and Megan Messina
The Insight by Oaktree Capital
How CLOs and CDOs Are Different
A CLO structure protects the portfolio, it's self-healing or self-protective. The manager has to manage certain tests in order to keep the portfolio at high quality. When those thresholds are breached, the manager will fail tests. But there is a buffer in a period of time where the manager can get the deal back into compliance.
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