Monroe Capital MML CLO XI Ltd. Notes Assigned Ratings - S&P Global Ratings’ Credit Research

Monroe Capital MML CLO XI Ltd. Notes Assigned Ratings

Monroe Capital MML CLO XI Ltd. Notes Assigned Ratings - S&P Global Ratings’ Credit Research
Monroe Capital MML CLO XI Ltd. Notes Assigned Ratings
Published May 07, 2021
4 pages (1648 words) — Published May 07, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Monroe Capital MML CLO XI Ltd.'s issuance is a CLO securitization backed by primarily middle-market speculative-grade senior secured term loans that are governed by collateral quality tests. We assigned our ratings to the class B-1, B-2, C, D, and E notes. The ratings reflect our view of the transaction's credit support and legal structure, among other factors. NEW YORK (S&P Global Ratings) May 7, 2021--S&P Global Ratings today assigned its ratings to Monroe Capital MML CLO XI Ltd./Monroe Capital MML CLO XI LLC's fixed- and floating-rate notes (see list). The note issuance is a CLO securitization backed by primarily middle-market speculative-grade (rated 'BB+' and lower) senior secured term loans that are governed by collateral quality tests. The ratings reflect our

  
Brief Excerpt:

...- Monroe Capital MML CLO XI Ltd.'s issuance is a CLO securitization backed by primarily middle-market speculative-grade senior secured term loans that are governed by collateral quality tests. - We assigned our ratings to the class B-1, B-2, C, D, and E notes. - The ratings reflect our view of the transaction's credit support and legal structure, among other factors. NEW YORK (S&P Global Ratings) May 7, 2021--S&P Global Ratings today assigned its ratings to Monroe Capital MML CLO XI Ltd./Monroe Capital MML CLO XI LLC's fixed- and floating-rate notes (see list). The note issuance is a CLO securitization backed by primarily middle-market speculative-grade (rated '##+' and lower) senior secured term loans that are governed by collateral quality tests. The ratings reflect our view of: - The diversification of the collateral pool. - The credit enhancement provided through the subordination of cash flows, excess spread, and overcollateralization. - The experience of the collateral manager's team,...

  
Report Type:

Ratings Action

Ticker
1880986D@KY
Issuer
Sector
Structured Finance
Country
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Monroe Capital MML CLO XI Ltd. Notes Assigned Ratings" May 07, 2021. Alacra Store. Mar 29, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Monroe-Capital-MML-CLO-XI-Ltd-Notes-Assigned-Ratings-2643666>
  
APA:
S&P Global Ratings’ Credit Research. (). Monroe Capital MML CLO XI Ltd. Notes Assigned Ratings May 07, 2021. New York, NY: Alacra Store. Retrieved Mar 29, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Monroe-Capital-MML-CLO-XI-Ltd-Notes-Assigned-Ratings-2643666>
  
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