Balance-sheet collateralized loan obligations that originated during the crisis in Europe, the Middle East and Africa performed well during the economic crisis, according to Fitch Ratings. In a special report, Fitch attributed the strong performance of the CLOs between 2007 and 2010 to “the absence of market arbitrage, the granularity of portfolios, the quality of securitized assets, the level of protection embedded in these structures and the strong alignment of interest between originating banks and investors.”

Click here to read the release from Fitch.