We reviewed Canyon CLO 2019-2 Ltd., a U.S. broadly syndicated CLO transaction managed by Canyon CLO Advisors LLC. We lowered our rating on the class E-R2 debt and removed it from CreditWatch negative. At the same time, we affirmed our ratings on the class A-R2, B-R2, C-R2, and D-R2 debt from the same transaction. The downgrade reflects insufficient credit support at the prior rating level, while the affirmations reflect our view that the credit support available to these classes is commensurate with the current ratings levels. ENGLEWOOD (S&P Global Ratings) Nov. 4, 2026--S&P Global Ratings today lowered its rating on the class E-R2 debt from Canyon CLO 2019-2 Ltd. and removed it from CreditWatch negative. We also affirmed our ratings
