S&P Dow Jones Indices launches CLO investment grade index series

S&P Dow Jones Indices, a division of S&P Global (NYSE: SPGI), has launched the S&P U.S. CLO Investment Grade Indices, a new series of benchmarks designed to measure the performance of USD-denominated, floating-rate, investment-grade collateralized loan obligation (CLO) debt tranches.

The index family comprises four indices covering different rating tiers: the S&P U.S. CLO AAA Index, the S&P U.S. CLO AA Index, the S&P U.S. CLO A Index, and the S&P U.S. CLO BBB Index.

According to a press release, the indices draw on pricing and analytics from S&P Global Market Intelligence and credit expertise from S&P Global Ratings, combining those resources with S&P DJI's index methodology.

"As investors seek diversified floating-rate income and better tools to manage interest rate risk, CLOs are becoming a growing staple of fixed income portfolios," said Cameron Drinkwater, Chief Product & Operations Officer at S&P Dow Jones Indices.

"CLOs remain one of the fastest-growing segments of fixed income. Expanding our index range reflects our commitment to supporting this growth by delivering transparent, rules-based benchmarks that support investors, issuers, and product providers across the market," added Kunal Mehta, Head of Fixed Income Products at S&P Dow Jones Indices.

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