...- Allegro CLO XIX Ltd.'s debt issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade senior secured term loans. - We assigned our ratings to the class A, B, C, D-1, D-2, and E debt. - The ratings reflect our view of the transaction's credit enhancement, pool characteristics, and legal structure, among other factors. NEW YORK (S&P Global Ratings) April 17, 2025--S&P Global Ratings today assigned its ratings to Allegro CLO XIX Ltd./Allegro CLO XIX LLC's floating-rate debt (see list). The debt issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade (rated '##+' or lower) senior secured term loans. The transaction is managed by AXA Investment Managers US Inc., a subsidiary of AXA Group. The ratings reflect: - Our view of the collateral pool's diversification; - The credit enhancement provided through subordination, excess spread, and overcollateralization;...
