...- ICG US CLO 2020-1 Ltd. refinanced its class A-R, B-R, and C-R debt on March 14, 2025, through an optional redemption and replacement debt issuance. - After analyzing the changes to the transaction, we assigned ratings to the replacement class A-RR, B-RR, and C-RR debt. At the same time, we withdrew our ratings on the class A-R, B-R, and C-R debt following payment in full. We also affirmed our ratings on the class D-R and E-R debt, which were not refinanced. - The ratings reflect our view of the credit support available to the refinanced debt after examining the new capital structure and payment mechanics. NEW YORK (S&P Global Ratings) March 14, 2025--S&P Global Ratings today assigned its ratings to the replacement class A-RR, B-RR, and C-RR debt from ICG US CLO 2020-1 Ltd./ICG US CLO 2020-1 LLC, a CLO managed by ICG Debt Advisors LLC that was originally issued in November 2020 and underwent a refinancing on Dec. 7, 2021. At the same time, we withdrew our ratings on the class A-R, B-R,...
