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![viceroyresearch Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::812145753338548224.png) Viceroy [@viceroyresearch](/creator/twitter/viceroyresearch) on x 46.3K followers
Created: 2025-04-24 13:41:18 UTC

Spread Analysis

Across the CLOs net interest spreads since December 2023 are down:

-XX% in 2022-FL1
-XX% in 2021-FL3
-XX% in 2021-FL4

This puts unsustainable bottom-line impact on Arbor's earnings in an otherwise high-rate environment. $ABR cannot afford dividends. 8/end

![](https://pbs.twimg.com/media/GpTePkNWUAALhLb.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1915400660201206154/c:line.svg)

**Related Topics**
[$abr](/topic/$abr)

[Post Link](https://x.com/viceroyresearch/status/1915400660201206154)