OVERVIEW Carlyle Global Market Strategies CLO 2014-1 Ltd./Carlyle Global Market Strategies CLO 2014-1 LLC's note issuance is a CLO transaction backed by a revolving pool consisting primarily of broadly syndicated senior secured loans. We affirmed our rating on the class X, A, B, C, D, and E notes following the transaction's effective date as of Aug. 22, 2014. The "effective date" for a CLO transaction is typically the earlier of the date on which the transaction acquires the target level of portfolio collateral and the date defined in the transaction documents. When requested, Standard&Poor's will analyze the information provided by the trustee and determine whether it believes a rating affirmation is appropriate. Historically, many CLOs transaction documents contain
