In this episode of The Upgrade podcast, we discuss how some lenders have been dislodged from their senior claims on collateral through the use of existing document provisions. We highlight some possible remedies being talked about among CLO market participants. Guests are analysts from S&P's U.S. corporate ratings leveraged finance team.

Time flies when you're having fun in podcasts. And in this episode, Hina and Sandeep are joined by Patrick Janssen, analyst in the corporate ratings group to discuss TUI, the Germany-based fully integrated tourism group. Listen in as we discuss how TUI has been affected during the downturn and how this has affected their ratings.

In this episode of The Upgrade podcast, we discuss monitoring S&P credit estimates on middle market entities during the pandemic and what this has meant for Middle Market loan-backed CLOs. Other topics include looking at how Middle Market differs from broadly syndicated transactions and the outlook for new transactions. Guests are analysts from the corporate rating team and the CLO team at S&P.

In episode 10, Hina and Sandeep are joined by Thibaud Lagache, analyst in the corporate ratings group to discuss Altice, telecom provider of pay television, broadband internet and mobile services. Listen in as we discuss the strengths and weaknesses of the credit, and the impact from its majority-owner decision to take it private.

Series 2, Episode 9: In episode 9, Hina and Sandeep are joined by Paulina Grabowiec, lead analyst in the corporate ratings group to discuss Root Bidco, the parent entity of the specialty crop nutrition, biocontrol, and crop protection products supplier Rovensa, and a common credit in European CLOs. Listen in as we discuss the strengths, weaknesses and risks to recovery ratings, including how it is performing during the downturn.

In episode 8, Hina and Sandeep are joined by Wen Li, analyst in the corporate ratings group at S&P to discuss Allnex, the Germany-headquartered chemicals company, and a popular credit in European CLOs. Listen in as we discuss the strengths and weaknesses of the credit, including how it is performing during the downturn.

In episode 7, Hina and Sandeep are joined by Natalia Goncharova – a lead analyst in the corporate ratings team -- to discuss the key rating drivers behind AutoScout24, one of the leading car classified ad platforms. Listen in as we discuss the strengths and weaknesses of the credit and it's related sector, and how European CLOs have been trading in the credit for their portfolios.

When did you last watch a film at the cinema? Well, in today's episode, Hina and Sandeep are joined by Alexandra Balod – a senior analyst in the corporate ratings team for the Media and Entertainment sector -- to discuss the key rating drivers behind Vue International, the UK-based cinema operator. Listen in as we discuss the strengths and weaknesses of the credit and it's related sector, and how European CLOs have been de-risking their exposure to Vue from their portfolios.

We're back and we've upgraded! After an extended break since March, we're back with our regular Lev Finance and CLO podcasts, and with our updated logo. Stay tuned for even greater insights into the world corporates and CLOs.

In episode 5, Hina and Sandeep are joined by Paul Watters, head of EMEA Research at S&P to discuss global macro-economic conditions since the start of the Covid pandemic. Listen in as we also discuss the shape of the economic recovery, the divergence in performance between corporate sectors and how recent trading by European CLO managers highlights a similar trend pattern.