We reviewed Atlas Senior Loan Fund XVII Ltd., a broadly syndicated CLO originally issued in 2021. We lowered our rating on the class E-R debt from the transaction and removed it from CreditWatch negative. At the same time, we affirmed our ratings on the class A-R, B-1, B-2, C-R, and D debt from the same transaction. The downgrade reflects the decline in the credit support available to the junior debt since our last rating action as well as the non-passing cash flow results at the previous rating level. The affirmations reflect our view that the credit support available to the classes of debt is commensurate with the current rating levels. ENGLEWOOD (S&P Global Ratings) Nov. 6, 2026--S&P Global Ratings today
