OREANDA-NEWS. Issuance of new U. S. collateralized loan obligations (CLOs) picked up in the second quarter of this year in comparison to the first quarter, according to Fitch Ratings. Thirty nine U. S. CLOs and 11 European CLOs priced, while new issue stated spreads increased in the U. S. and dropped in the European market during the second quarter of 2016, according to Fitch's latest 'Global CLO Market Trends Quarterly.'

Fitch believes the U. K's referendum may affect the issuance volumes of European CLOs, but European CLO performance should remain resilient. Fitch also commented on their approach to rating combination notes and the importance of continuing to rate these notes in the future. Fitch has begun increasing their coverage of the U. S. loan market in response to its increased involvement in CLO ratings.