...- Empower CLO 2023-1 Ltd.'s note issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade senior secured term loans. - We assigned our ratings to the class A, B, C, D, and E notes. - The ratings reflect our view of the transaction's diversified collateral pool, credit enhancement, and legal structure, among other factors. ENGLEWOOD (S&P Global Ratings) April 25, 2023--S&P Global Ratings today assigned its ratings to Empower CLO 2023-1 Ltd./Empower CLO 2023-1 LLC's floating-rate notes (see list). The note issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade (rated '##+' or lower) senior secured term loans. The transaction is managed by Empower Capital Management LLC. The ratings reflect our view of: - The collateral pool's diversification; - The credit enhancement provided through subordination, excess spread, and overcollateralization; - The experience...
