Preliminary Ratings Assigned To Two Classes From Figueroa CLO 2014-1 Ltd. In Connection With Proposed Refinancing - S&P Global Ratings’ Credit Research

Preliminary Ratings Assigned To Two Classes From Figueroa CLO 2014-1 Ltd. In Connection With Proposed Refinancing

Preliminary Ratings Assigned To Two Classes From Figueroa CLO 2014-1 Ltd. In Connection With Proposed Refinancing - S&P Global Ratings’ Credit Research
Preliminary Ratings Assigned To Two Classes From Figueroa CLO 2014-1 Ltd. In Connection With Proposed Refinancing
Published Jul 12, 2018
6 pages (2106 words) — Published Jul 12, 2018
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Abstract:

OVERVIEW We reviewed Figueroa CLO 2014-1 Ltd., which, based on its proposed supplemental indenture, is expected to refinance its class A, B, C, D, E, and F notes on July 16, 2018, through an optional redemption and replacement note issuance. After analyzing the changes to the transaction, we assigned our preliminary ratings to the replacement class A-R and F-R notes. The original class A, B, C, D, E, and F notes are expected to be fully redeemed with the proceeds from the replacement note issuance on the July 16, 2018, refinancing date. NEW YORK (S&P Global Ratings) July 12, 2018--S&P Global Ratings today assigned its preliminary ratings to the class A-R and F-R replacement notes from Figueroa CLO 2014-1 Ltd.,

  
Brief Excerpt:

...OVERVIEW + We reviewed Figueroa CLO 2014-1 Ltd., which, based on its proposed supplemental indenture, is expected to refinance its class A, B, C, D, E, and F notes on July 16, 2018, through an optional redemption and replacement note issuance. + After analyzing the changes to the transaction, we assigned our preliminary ratings to the replacement class A-R and F-R notes. + The original class A, B, C, D, E, and F notes are expected to be fully redeemed with the proceeds from the replacement note issuance on the July 16, 2018, refinancing date. NEW YORK (S&P Global Ratings) July 12, 2018--S&P Global Ratings today assigned its preliminary ratings to the class A-R and F-R replacement notes from Figueroa CLO 2014-1 Ltd., a collateralized loan obligation (CLO) originally issued in 2014. The preliminary ratings reflect our opinion that the credit support available is commensurate with the associated rating levels. The preliminary ratings are based on information as of July 12, 2018. Subsequent...

  
Report Type:

Ratings Action

Issuer
Sector
Structured Finance
Country
Region
Latin America
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Preliminary Ratings Assigned To Two Classes From Figueroa CLO 2014-1 Ltd. In Connection With Proposed Refinancing" Jul 12, 2018. Alacra Store. Nov 19, 2018. <http://www.alacrastore.com/s-and-p-credit-research/Preliminary-Ratings-Assigned-To-Two-Classes-From-Figueroa-CLO-2014-1-Ltd-In-Connection-With-Proposed-Refinancing-2070665>
  
APA:
S&P Global Ratings’ Credit Research. (). Preliminary Ratings Assigned To Two Classes From Figueroa CLO 2014-1 Ltd. In Connection With Proposed Refinancing Jul 12, 2018. New York, NY: Alacra Store. Retrieved Nov 19, 2018 from <http://www.alacrastore.com/s-and-p-credit-research/Preliminary-Ratings-Assigned-To-Two-Classes-From-Figueroa-CLO-2014-1-Ltd-In-Connection-With-Proposed-Refinancing-2070665>
  
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