NEW YORK--(BUSINESS WIRE)--
Kroll Bond Rating Agency (KBRA) presents the second in a series of short-form thematic research called Structured Things, a periodic briefing on various topical issues prevalent across the structured credit markets. In this issue, KBRA discusses LIBOR cessation and current preparations for transitioning from U.S.-dollar LIBOR to an alternative reference rate, specifically the Secured Overnight Financing Rate (SOFR).
The report provides an overview of some challenges facing legacy transactions with respect to the assumed transition and how certain market participants—including issuers of collateralized loan obligations (CLOs)—are setting up transaction documents to accommodate for an alternate reference rate that may not yet exist.
To view the report, click here.
Related Publications: (available at www.kbra.com)
- KBRA’s Structured Credit 101: Collateralized Loan Obligations
- KBRA’s Structured Credit 401: Primer on Combination Notes
- Structured Things: The Upside-Down Yield Curves
- What Is the Loan Market Telling Us?
- Par Wars: Attack on the Loans
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About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.