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CLO Managers Fret Altice Downgrade to Trigger Selloff of Riskiest Bonds

(Bloomberg) — The fallout from Altice France’s decision to threaten a haircut for creditors is just beginning.  The ratings downgrade to CCC that followed means some managers of collateralized loan obligations, which bundle up slices of loans from the likes of Altice and sell them as bonds, are in jeopardy of breaching the maximum amount… ....

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