Pandemic poses big risk to collateralised loans market - EU watchdog
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LONDON (Reuters) - The coronavirus pandemic poses significant risks to the collateralised loan obligations (CLOs) market as the creditworthiness of the debt deteriorates, the European Union's securities watchdog said on Wednesday.CLOs are securities backed by a pool of loans taken out by companies that have high levels of debt and typically a non-investment grade credit rating.With economies entering deep recessions following lockdowns to fight the COVID-19 pandemic, many companies are..