We reviewed seven ratings from RAD 26 CLO Ltd., a U.S. broadly syndicated CLO managed by Irradiant Partners L.P. (acquired by Redding Ridge Asset Management in 2025) We lowered our rating on the class E notes from the transaction and removed it from CreditWatch negative. We affirmed our ratings on the class A, B-1, B-2, C, D-1, and D-2 notes from the same transaction. The lowered rating reflects the decline in credit support available to the junior notes, as well as non passing cash flow results at the previous rating level. The affirmations reflect our view that the credit support available is commensurate with the current rating levels. TORONTO (S&P Global Ratings) Nov. 6, 2026--S&P Global Ratings today lowered its
