Ratings Assigned To Six Classes From OCP CLO 2014-5 Ltd. In Connection With Refinancing

OVERVIEW OCP CLO 2014-5 Ltd. refinanced its class A-1, A-2, B, C, D, and E notes notes on Feb, 26, 2018, through an optional redemption and replacement note issuance. We withdrew our ratings on the original class A-1, A-2, B, C, D, and E notes following payment in full on the Feb. 26, 2018, refinancing date, as well as our rating on the combination notes. After analyzing the changes to the transaction, we assigned our ratings to the replacement class A-1-R, A-2-R, B-R, C-R, D-R, and E-R notes. The assigned ratings reflect our opinion that the credit support available is commensurate with the associated rating levels. NEW YORK (S&P Global Ratings) Feb. 26, 2018--S&P Global Ratings today assigned its ratings

...OVERVIEW + OCP CLO 2014-5 Ltd. refinanced its class A-1, A-2, B, C, D, and E notes notes on Feb, 26, 2018, through an optional redemption and replacement note issuance. + We withdrew our ratings on the original class A-1, A-2, B, C, D, and E notes following payment in full on the Feb. 26, 2018, refinancing date, as well as our rating on the combination notes. + After analyzing the changes to the transaction, we assigned our ratings to the replacement class A-1-R, A-2-R, B-R, C-R, D-R, and E-R notes. + The assigned ratings reflect our opinion that the credit support available is commensurate with the associated rating levels. NEW YORK (S&P Global Ratings) Feb. 26, 2018--S&P Global Ratings today assigned its ratings to the class A-1-R, A-2-R, B-R, C-R, D-R, and E-R replacement notes from OCP CLO 2014-5 Ltd., a collateralized loan obligation originally issued in 2014 that is managed by Onex Credit Partners LLC (see list). We withdrew our ratings on the original class A-1, A-2, B, C, D, and...

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