...- We reviewed Eaton Vance CLO 2020-1 Ltd./Eaton Vance CLO 2020-1 LLC, which, based on its proposed supplemental indenture, is expected to refinance its class A, B, C, D, and E notes on Sept. 9, 2021, through an optional redemption and replacement note issuance. - After analyzing the changes to the transaction, we assigned our preliminary ratings to the replacement class A-R, B-R, C-R, D-R, and E-R notes. The original notes are expected to be fully redeemed with the proceeds from the replacement notes on the refinancing date. - The preliminary ratings reflect our view of the credit support available to the refinanced notes after examining the new capital structure and payment mechanics. NEW YORK (S&P Global Ratings) Sept. 3, 2021--S&P Global Ratings today assigned its preliminary ratings to the replacement class A-R, B-R, C-R, D-R, and E-R notes of Eaton Vance CLO 2020-1 Ltd./Eaton Vance CLO 2020-1 LLC, a CLO originally issued in August 2020 (see ratings list). The CLO is managed by Eaton...
