We reviewed Symphony CLO 36 Ltd., a U.S. broadly syndicated CLO transaction. We lowered our ratings on the class D-1-R, D-2a-R, D-2b-R, and E-R debt and removed them from CreditWatch negative. At the same time, we affirmed our ratings on the class A-R, B-1-R, B-2-R, and C-R debt from the same transaction. The downgrades reflect insufficient credit support at the prior rating levels, while the affirmations reflect our view that the credit support available to the classes concerned is commensurate with the current ratings levels. MINNEAPOLIS (S&P Global Ratings) Nov. 2, 2026--S&P Global Ratings today lowered its ratings on the class D-1-R, D-2a-R, D-2b-R, and E-R debt from Symphony CLO 36 Ltd. and removed them from CreditWatch with negative implications.
