...- Navesink CLO 1 Ltd. refinanced its class A-1, A-J, B-1, B-F, C-1, C-F, D-1, D-J, and E debt on May 7, 2025, through an optional redemption and replacement debt issuance. - After analyzing the changes to the transaction, we assigned our ratings to the replacement class A-1R, A-JR, B-R, C-R, D-1R, D-JR, and E-R debt. At the same time, we withdrew our ratings on the original class A-1, A-J, B-1, B-F, C-1, C-F, D-1, D-J, and E debt following payment in full. - The ratings reflect our view of the credit support available to the refinanced debt after examining the transaction's new capital structure and payment mechanics. ENGLEWOOD (S&P Global Ratings) May 7, 2025--S&P Global Ratings today assigned its ratings to the replacement class A-1R, A-JR, B-R, C-R, D-1R, D-JR, and E-R debt from Navesink CLO 1 Ltd./Navesink CLO 1 LLC, a CLO managed by ZAIS Leveraged Loan Master Manager LLC that was originally issued in June 2023. At the same time, we withdrew our ratings on the original class A-1, A-J,...
