The Insight: Conversations – Fighting the Fed with Armen Panossian, Danielle Poli, and Megan Messina
The Memo by Howard Marks
How CLLOs and CDOs Are Different
A CLLO structure protects the portfolio, it's self-healing or self-protective. So that 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 and the manager's job is to get those tests back into compliance.
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