...- Generate CLO 15 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 ratings to the class B, C, D, and E debt. - The ratings reflect our view of the collateral pool's diversification and the transaction's credit enhancement, pool characteristics, and legal structure, among other factors. NEW YORK (S&P Global Ratings) May 14, 2024--S&P Global Ratings today assigned its ratings to Generate CLO 15 Ltd./Generate CLO 15 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 '##+' or lower) senior secured term loans. The transaction is managed by Generate Advisors LLC. The ratings reflect our view of: - The collateral pool's diversification; - The credit enhancement provided through subordination, excess spread, and overcollateralization; -...
