Ivy Hill Middle Market Credit Fund 26 Ltd.'s debt issuance is a CLO securitization governed by investment criteria and backed primarily by middle market speculative-grade senior secured term loans. We assigned our preliminary ratings to the class A-1, A-1L, A-2A, A-2B, B, C-1, C-2, D-1, D-2, and E 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) Nov. 6, 2026--S&P Global Ratings today assigned its preliminary ratings to Ivy Hill Middle Market Credit Fund 26 Ltd.'s fixed- and floating-rate debt (see list). The debt issuance is a CLO securitization governed by investment criteria and backed primarily by middle market speculative-grade (rated'BB+'or
