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Arbor – December CLO Update

Author: Published on: Published in: Arbor Realty Trust (NYSE:ABR)

December 22, 2023 – Arbor’s underlying CLO performance data for December is now live. Sixty-nine of Arbor’s CLO loans are now delinquent, representing a 50% growth in the number of delinquencies month-on-month. Over $1.25b in Arbor deal value in its CLOs alone now delinquent and at risk.

In this December period, we can also show that Arbor has been removing non-performing loans from its CLO and plugged performing loans in the deals. This means that the continued, rapid deterioration of these books comes despite Arbor plugging holes in this leaky CLO ship.

This surveillance report will track Arbor’s underlying asset delinquencies and debt service coverage ratios (DSCR), which now show clear and dangerous negative trends to the downside.

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