OREANDA-NEWS. Fitch Ratings says that there is no impact on Phoenix Park CLO Limited notes' ratings from the addition of Bank of America, N.A. (A/Negative/F1) as an asset swap counterparty. Fitch has reviewed the swap documentation and it is consistent with Fitch's counterparty criteria.

Phoenix Park CLO Limited is an arbitrage cash flow collateralised loan obligation that closed in July 2014. Net proceeds from the issuance of the notes were used to purchase a EUR400m portfolio of European leveraged loans and bonds. The portfolio is managed by Blackstone/GSO Debt Funds Management Europe Limited. The reinvestment period is scheduled to end in 2018.