S&P publishes CPDO report

The recent growth in constant proportion debt obligations (CPDOs) has prompted Standard & Poor’s to publish a report looking at the main drivers of future performance in this new derivative.

In the report, entitled ‘CPDOs have arrived in global credit derivatives market’, credit analyst Cian Chandler says: “Over the past couple of years this market has seen spread- and market value-based structures develop, and CPDOs are the latest in this evolution. The structure is a variation of the credit con

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