Elmwood CLO 42 Ltd.'s debt issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade senior secured term loans. We assigned our preliminary ratings to the class A, B, C, D, E, and F debt. The preliminary ratings reflect our view of the transaction's pool characteristics, credit enhancement, and legal structure, among other factors. New York (S&P Global Ratings) May 15, 2025--S&P Global Ratings today assigned its preliminary ratings to Elmwood CLO 42 Ltd./Elmwood CLO 42 LLC's floating-rate debt (see list). The debt issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade (rated 'BB+' and lower) senior secured term loans. The transaction is managed by Elmwood Asset
