Chenango Park CLO Ltd. Rating Lowered On One Class And Affirmed On Five

We reviewed six classes from Chenango Park CLO Ltd. We lowered and removed from CreditWatch negative our rating on the class D notes. We also affirmed our ratings on the class A-1a, A-2, B, C, and E notes from the same transaction. The downgrade reflects insufficient support at the prior rating level. The affirmed ratings reflect our view that the credit support available is commensurate with the current rating level. NEW YORK (S&P Global Ratings) Dec. 13, 2023--S&P Global Ratings today lowered its rating on the class D notes from Chenango Park CLO Ltd. We also removed the class from CreditWatch, where we placed it with negative implications on Oct. 24, 2023. At the same time, we affirmed our ratings

...- We reviewed six classes from Chenango Park CLO Ltd. - We lowered and removed from CreditWatch negative our rating on the class D notes. - We also affirmed our ratings on the class A-1a, A-2, B, C, and E notes from the same transaction. - The downgrade reflects insufficient support at the prior rating level. The affirmed ratings reflect our view that the credit support available is commensurate with the current rating level. NEW YORK (S&P Global Ratings) Dec. 13, 2023--S&P Global Ratings today lowered its rating on the class D notes from Chenango Park CLO Ltd. We also removed the class from CreditWatch, where we placed it with negative implications on Oct. 24, 2023. At the same time, we affirmed our ratings on the class A-1a, A-2, B, C, and E notes from the same transaction (see list). Today's rating actions follow our review of the transaction's performance using data from the Nov. 6, 2023, trustee report. The transaction has paid down $13.37 million to the class A-1a notes since our...

Ratings Action