Core Income Funding VIII LLC Debt Assigned Ratings - S&P Global Ratings’ Credit Research

Core Income Funding VIII LLC Debt Assigned Ratings

Core Income Funding VIII LLC Debt Assigned Ratings - S&P Global Ratings’ Credit Research
Core Income Funding VIII LLC Debt Assigned Ratings
Published Dec 17, 2024
4 pages (1644 words) — Published Dec 17, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Core Income Funding VIII LLC's debt issuance is a CLO securitization governed by investment criteria and backed primarily by middle-market speculative-grade senior-secured term loans. We assigned our ratings to the class A-R, A-T, A-D1, and A-D2 debt. The ratings reflect our view of the transaction's pool characteristics, credit enhancement, and legal structure, among other factors. MONTREAL (S&P Global Ratings) Dec. 17, 2024--S&P Global Ratings today assigned its ratings to Core Income Funding VIII LLC's floating-rate debt (see list). The debt issuance is a middle-market CLO warehouse facility serviced by Blue Owl Credit Income Corp. The ratings reflect our view of: The diversification of the collateral pool, which consists primarily of middle-market speculative-grade (rated 'BB+' and lower) senior-secured term loans; The

  
Brief Excerpt:

...- Core Income Funding VIII LLC's debt issuance is a CLO securitization governed by investment criteria and backed primarily by middle-market speculative-grade senior-secured term loans. - We assigned our ratings to the class A-R, A-T, A-D1, and A-D2 debt. - The ratings reflect our view of the transaction's pool characteristics, credit enhancement, and legal structure, among other factors. MONTREAL (S&P Global Ratings) Dec. 17, 2024--S&P Global Ratings today assigned its ratings to Core Income Funding VIII LLC's floating-rate debt (see list). The debt issuance is a middle-market CLO warehouse facility serviced by Blue Owl Credit Income Corp. The ratings reflect our view of: - The diversification of the collateral pool, which consists primarily of middle-market speculative-grade (rated '##+' and lower) senior-secured term loans; - The credit enhancement provided through subordination, excess spread, and overcollateralization; - The experience of the collateral manager's team, which can affect...

  
Report Type:

Ratings Action

Issuer
Core Income Funding VIII LLC
Sector
Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Core Income Funding VIII LLC Debt Assigned Ratings" Dec 17, 2024. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Core-Income-Funding-VIII-LLC-Debt-Assigned-Ratings-3301180>
  
APA:
S&P Global Ratings’ Credit Research. (). Core Income Funding VIII LLC Debt Assigned Ratings Dec 17, 2024. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Core-Income-Funding-VIII-LLC-Debt-Assigned-Ratings-3301180>
  
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