...OVERVIEW + We reviewed Carlyle Global Market Strategies CLO 2014-1 Ltd., which, based on its proposed supplemental indenture, is expected to refinance its class A-R, B-R, C-R, D, and E notes on April 6, 2018, through an optional redemption and replacement note issuance. This will be the transaction's second refinancing. + After analyzing the changes to the transaction, we assigned our preliminary ratings to the replacement class A-1-R-2, B-R-2, C-R-2, D-R, and E-R notes, as well as to the new class X-R notes. The class A-2-R-2 notes are not rated by S&P Global Ratings. + The class A-R, B-R, C-R, D, and E notes are expected to be fully redeemed with the proceeds from the replacement note issuance on the April 6, 2018, second refinancing date. NEW YORK (S&P Global Ratings) March 13, 2018--S&P Global Ratings today assigned its preliminary ratings to the class A-1-R-2, B-R-2, C-R-2, D-R, and E-R replacement notes, as well as to the new class X-R notes, from Carlyle Global Market Strategies...
