Performance of European small and medium-size enterprise collateralized loan obligations continue to stabilize or improve, according to Fitch Ratings. Fitch reports, for example, that default rates for Spanish CLOs have stabilized at 1.2% following a rise in impairments in the past two years, and loan prepayment rates have returned to pre-crisis levels as originating banks have restructured their non-performing loans.

Click here to read the release from Fitch Ratings.