...- Oaktree CLO 2023-1 Ltd./Oaktree CLO 2023-1 LLC's note issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade senior secured term loans. - We assigned our ratings to the class B, C, D, and E notes. - The ratings reflect our view of the transaction's credit enhancement, pool characteristics, and legal structure, among other factors. ENGLEWOOD (S&P Global Ratings) March 28, 2023--S&P Global Ratings today assigned its ratings to Oaktree CLO 2023-1 Ltd./Oaktree CLO 2023-1 LLC's floating-rate notes (see list). The transaction is managed by Oaktree Capital Management L.P. The note issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade (rated '##+' or lower) senior secured term loans. The ratings reflect: - Our view of the collateral pool's diversification; - The credit enhancement provided through subordination, excess spread, and overcollateralization;...
