...- We reviewed CFIP CLO 2017-1 Ltd., which, based on its proposed supplemental indenture, is expected to refinance its class A, B, C, D, and E notes on Sept. 15, 2021, 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, B-R, C-R, D-R and E-R notes and proposed new class X notes. The original notes are expected to be fully redeemed with the proceeds from the replacement notes on the refinancing date. - The ratings reflect our view of the credit support available to the refinanced notes after examining the new capital stack and payment mechanics. CENTENNIAL (S&P Global Ratings) Sept. 10, 2021--S&P Global Ratings today assigned its preliminary ratings to the class A-R, B-R, C-R, D-R and E-R replacement notes and proposed new class X notes from CFIP CLO 2017-1 Ltd., a CLO originally issued in December 2017 that is managed by CFI Partners LLC (see list). The preliminary...
