...- RAD CLO 26 Ltd.'s debt issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade senior secured term loans. - We assigned our ratings to the class A, B-1, B-2, C, D-1, D-2, and E debt. - The ratings reflect our view of the transaction's diversified collateral pool, credit enhancement, and legal structure, among other factors. NEW YORK (S&P Global Ratings) Sept. 18, 2024--S&P Global Ratings today assigned its ratings to RAD CLO 26 Ltd./RAD CLO 26 LLC's floating- and fixed-rate debt (see list). The debt issuance is a CLO securitization governed by investment criteria and backed primarily by broadly syndicated speculative-grade (rated '##+' and lower) senior secured term loans. The transaction is managed by Irradiant Partners L.P. The ratings reflect: - The diversification of the collateral pool; - The credit enhancement provided through subordination, excess spread, and overcollateralization; - The experience of the collateral...
