Journal of International Financial Markets, Institutions & Money, 2021, 72, 101305, DOI:10.1016/j.intfin.2021.101305 DMei nk en i Ns aVwi na ks Vivian M. van Breemen Acknowledgement: We thank Jakob de Haan (De Nederlandsche Bank) and Frank Fabozzi (EDHEC Business School) for their comments and suggestions on a previous version of the paper. We also thank John Graham (Duke University Fuqua School of Business) for the invitation to participate in the American Finance Association 2020. We also benefited from comments provided by participants of the American Finance Association Conference 2020 and the Paris Financial Management Conference 2019. Security Design and Credit Rating Risk in the CLO market Chapter 3
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