Investor Presentaiton
$ Trillions
2021 Issuance Recap
Historical MIS Rated Issuance¹
$6.0
$4.0
$2.0
9%
$0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total MIS Rated Issuance Prior 5-Yr. Avg. Issuance (2016-2020)
>>> Issuance volumes remained significantly above the prior 5-year average
>>> Sustained refinancing and M&A activity drove leveraged loan issuance
>>
Favorable market conditions and tight spreads led to record CLO activity
FY 2021 Year-Over-Year Issuance 1 Growth
Total MIS Rated Issuance
9%
Structured Finance
123%
Leveraged Loans
104%
Financial Institutions
13%
High Yield Bonds
Public, Project and
Infrastructure Finance
Investment Grade (36%)
12%
(20%)
1.
Issuance figures are subject to amendment given face amount variations that may occur following the reporting cycle.
Note: MIS rated issuance, excludes sovereign debt issuance. Issuance figures displayed in trillions, except for year-over-year growth calculations.
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4Q & FY 2021 Investor Presentation 16View entire presentation