Jefferies Group LLC has sold its ownership interest in Jefferies LoanCore LLC (now known as LoanCore Capital Markets LLC) to its other owners, including CPPIB Credit Investments Inc. and GIC. LoanCore has reduced its total committed equity to $240 million, which reduces its total capital base to $400 million from $560 million, and has reduced its available repurchase facilities. We are affirming our 'B+' issuer credit rating and 'B' senior unsecured debt ratings on the company. The stable outlook reflects our expectation that the company will operate with debt to adjusted total equity between 2x and 4.5x and more limited credit risk, and that profitability will remain volatile given the reliance on commercial mortgage backed securitizations. On Nov. 1, 2017,
