OCP CLO 2025-43 Ltd.'s issuance is a CLO securitization governed by investment criteria and consists primarily of broadly syndicated speculative-grade senior secured term loans. We assigned our preliminary ratings to the class A-1, A-2, B, C, 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. CHICAGO (S&P Global Ratings) May 5, 2025--S&P Global Ratings today assigned its preliminary ratings to OCP CLO 2025-43 Ltd./OCP CLO 2025-43 LLC's floating-rate debt (see list). The debt issuance is a CLO securitization governed by investment criteria and consists primarily of broadly syndicated speculative-grade (rated 'BB+' and lower) senior secured term loans. The transaction is managed by Onex Credit Partners
