First Lien Senior Floating Rate Loans (ABS?)

Would all first and second lien senior floating rate loans be considered asset backed securities or not? I am completing research and in particular looking at the Eaton Vance Credit Opportunities Fund (EOE) a closed end fund. Most loans are term with a few DIP loans. Any help is appreciated.

i would say no… ABS are generally securitizations backed by assets with predictable and periodic cash flows. think credit card ABS, auto loan ABS, student loan ABS, MBS, etc.

Thank you. I was forgetting one the key principals of ABSs; as you pointed out, predictable and periodic cash flows.

First Lien Loans are, however, usually fully collateralized. techically speaking they may not be considered ABS, but they certainly do have claims on assets.