...OVERVIEW + Canyon CLO 2019-2 Ltd./Canyon CLO 2019-2 LLC's issuance is a CLO transaction backed primarily by broadly syndicated speculative-grade (rated '##+' and lower) senior secured term loans that are governed by collateral quality tests. + We assigned our preliminary ratings to the class A, B, C, D, and E notes. + The preliminary ratings reflect our view of the transaction's diversified collateral pool, credit enhancement, and legal structure, among other factors. CENTENNIAL (S&P Global Ratings) Sept. 10, 2019--S&P Global Ratings today assigned its preliminary ratings to Canyon CLO 2019-2 Ltd./Canyon CLO 2019-2 LLC's floating-rate notes (see list). The note issuance is a CLO transaction backed primarily by broadly syndicated speculative-grade (rated '##+' and lower) senior secured term loans that are governed by collateral quality tests. The preliminary ratings are based on information as of Sept. 10, 2019. Subsequent information may result in the assignment of final ratings that differ...
