...- 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,...