AIMCO CLO 11 Ltd. refinanced its class A-1R2, A-2R2, B-R2, C-R2, D-1R2, D-2R2, and E-R2 debt on Oct. 30, 2026, through an optional redemption and replacement debt issuance. After analyzing the changes to the transaction, we assigned our ratings to the replacement class A-1-R3, A-2-R3, B-R3, C-1-R3, D-1-R3, D-2-R3, and E-R3 debt and the new class C-2-R3 debt. At the same time, we withdrew our ratings on the previous class A-1R2, A-2R2, B-R2, C-R2, D-1R2, D-2R2, and E-R2 debt following payment in full. The ratings reflect our view of the credit support available to the refinanced debt after examining the transaction's new capital structure and payment mechanics. DALLAS (S&P Global Ratings) Oct. 30, 2026--S&P Global Ratings today assigned its ratings