Magnetite XXII Ltd./Magnetite XXII LLC Notes Assigned Ratings in Connection With Refinancing - S&P Global Ratings’ Credit Research

Magnetite XXII Ltd./Magnetite XXII LLC Notes Assigned Ratings in Connection With Refinancing

Magnetite XXII Ltd./Magnetite XXII LLC Notes Assigned Ratings in Connection With Refinancing - S&P Global Ratings’ Credit Research
Magnetite XXII Ltd./Magnetite XXII LLC Notes Assigned Ratings in Connection With Refinancing
Published May 07, 2021
5 pages (1984 words) — Published May 07, 2021
Price US$ 150.00  |  Buy this Report Now

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Abstract:

Overview Magnetite XXII Ltd./Magnetite XXII LLC, which, based on its supplemental indenture, refinanced its A-1, B, C, D, and E notes on May 7, 2021, through an optional redemption and replacement note issuance. After analyzing the changes to the transaction, we assigned our ratings to the replacement class A-R, B-R, C-R, D-R, and E-R notes and withdrew our ratings on the original class A-1, B, C, D, and E notes following payment in full. The ratings reflect our view of the credit support available to the refinanced notes after examining the new and lower spreads, which reduce the transaction's overall cost of funding. NEW YORK (S&P Global Ratings) May 7, 2021--S&P Global Ratings today assigned its ratings to the class

  
Brief Excerpt:

...May 7, 2021 Overview - Magnetite XXII Ltd./Magnetite XXII LLC, which, based on its supplemental indenture, refinanced its A-1, B, C, D, and E notes on May 7, 2021, through an optional redemption and replacement note issuance. - After analyzing the changes to the transaction, we assigned our ratings to the replacement class A-R, B-R, C-R, D-R, and E-R notes and withdrew our ratings on the original class A-1, B, C, D, and E notes following payment in full. - The ratings reflect our view of the credit support available to the refinanced notes after examining the new and lower spreads, which reduce the transaction's overall cost of funding. NEW YORK (S&P Global Ratings) May 7, 2021--S&P Global Ratings today assigned its ratings to the class A-R, B-R, C-R, D-R, and E-R replacement notes from Magnetite XXII Ltd./Magnetite XXII LLC, a CLO originally issued in May 2019 that is managed by BlackRock Financial Management Inc. At the same time, we withdrew our ratings on the original class A-1, A-2,...

  
Report Type:

Ratings Action

Issuer
Magnetite XXII, Limited
Sector
Structured Finance
Country
Region
Latin America
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Magnetite XXII Ltd./Magnetite XXII LLC Notes Assigned Ratings in Connection With Refinancing" May 07, 2021. Alacra Store. Mar 29, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Magnetite-XXII-Ltd-Magnetite-XXII-LLC-Notes-Assigned-Ratings-in-Connection-With-Refinancing-2643680>
  
APA:
S&P Global Ratings’ Credit Research. (). Magnetite XXII Ltd./Magnetite XXII LLC Notes Assigned Ratings in Connection With Refinancing May 07, 2021. New York, NY: Alacra Store. Retrieved Mar 29, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Magnetite-XXII-Ltd-Magnetite-XXII-LLC-Notes-Assigned-Ratings-in-Connection-With-Refinancing-2643680>
  
US$ 150.00
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