...OVERVIEW + Octagon Investment Partners 45 Ltd.'s issuance is a CLO transaction backed by primarily broadly syndicated speculative-grade senior secured term loans that are governed by collateral quality tests. + We assigned our ratings to the class A, B-1, B-2, C, D-1, D-2, and E notes. + The ratings reflect our view of the transaction's diversified collateral pool and legal structure, among other factors. NEW YORK (S&P Global Ratings) Nov. 18, 2019--S&P Global Ratings today assigned its ratings to Octagon Investment Partners 45 Ltd./Octagon Investment Partners 45 LLC's fixed- and floating-rate notes (see list). The note issuance is collateralize loan obligation transaction backed by primarily broadly syndicated speculative-grade (rated '##+' and lower) senior secured term loans that are governed by collateral quality tests. The ratings reflect: + The diversified collateral pool. + The credit enhancement provided through the subordination of cash flows, excess spread, and overcollateralization....
