what is a leveraged loan index lli 
a leveraged loan index lli is a market weighted index that tracks the performance of institutional leveraged loans several indexes for the market exist but the most widely followed one is the s p lsta u s leveraged loan 100 index 1a leveraged loan is a senior secured debt obligation that is rated below investment grade i e part of the high yield or junk bond market leveraged loans are issued to finance leveraged buyouts lbos and most of the loans are traded in the secondary market the leveraged loan index tracks the prices of the loans 