OVERVIEW Carlyle Global Market Strategies CLO 2014-1 Ltd./Carlyle Global Market Strategies CLO 2014-1 LLC's issuance is a CLO securitization backed by a revolving pool consisting primarily of broadly syndicated senior secured loans. We assigned our preliminary ratings to the class X, A, B, C, D, and E notes. The preliminary ratings reflect our view of the transaction's credit enhancement, diversified collateral portfolio, and legal structure, among other factors. CHICAGO (Standard&Poor's) March 13, 2014--Standard&Poor's Ratings Services today assigned its preliminary ratings to Carlyle Global Market Strategies CLO 2014-1 Ltd./Carlyle Global Market Strategies CLO 2014-1 LLC's $652.50 million floating-rate notes (see list). The note issuance is collateralized loan obligation securitization backed by a revolving pool consisting primarily of