The past week has brought two notable research pieces on the state of credit. First, last Friday, saw the release of the Shared National Credit (SNC) Review, which discusses risks in the syndicated loan market. Second, this week, Covenant Review compared the credit stats of the largest LBOs of 2007, 2017 and 2018. We dissect both reports below.
Aside from a short bout of volatility in early February, when the average S&P/LSTA Index price shed 25 bps, the market started 2018 the way it left off 2017: Aggressively.
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