U.S. BSL & MM CLO Spotlight – February 2025

Fitch Ratings|March 26, 2025

Content hub / Article / Fitch Ratings / U.S. BSL & MM CLO Spotlight – February 2025

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At the end of February 2025, 20 CLOs had exposure to at least one defaulted or deferring issuer. The average exposure in middle market (MM) CLOs decreased slightly compared to the previous month and February 2024. In February, one new defaulted issuer is recorded across four MM CLOs. This was offset by two issuers were upgraded and two others were sold with prices reported between 60 and 100.

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