...- ABPCI Private Funding I LLC's debt issuance is a middle market loan facility governed by investment criteria and backed primarily by middle market speculative-grade senior secured term loans. - We assigned our ratings to the class A-R, A-T, A-D1, A-D2, B, C, and D debt. - The ratings reflect our view of the transaction's pool characteristics, credit enhancement, and legal structure, among other factors. DALLAS (S&P Global Ratings) July 16, 2025--S&P Global Ratings today assigned its ratings to ABPCI Private Funding I LLC's floating-rate debt (see list). The debt issuance is a middle market loan facility governed by investment criteria and backed primarily by middle market speculative-grade (rated '##+' or lower) senior secured term loans. The transaction is managed by AB Private Credit Investors LLC. The ratings reflect our view of: - The diversification of the collateral pool; - The credit enhancement provided through subordination, excess spread, and overcollateralization; - The experience...
