Rockford Tower Europe CLO 2021-2 DAC European Cash Flow CLO Notes Assigned Preliminary Ratings

We have assigned preliminary ratings to Rockford Tower Europe CLO 2021-2 DAC's notes. The transaction securitizes a pool of primarily syndicated senior secured loans or bonds. LONDON (S&P Global Ratings) Nov. 11, 2021--S&P Global Ratings today assigned its preliminary credit ratings to Rockford Tower Europe CLO 2021-2 DAC's class X, A, B, C, D, E, and F notes. At closing, the issuer will issue unrated subordinated notes (see list above). Under the transaction documents, the rated notes will pay quarterly interest unless there is a frequency switch event. Following this, the notes will switch to semiannual payment. The preliminary ratings assigned to the notes reflect our assessment of: The diversified collateral pool, which primarily comprises broadly syndicated speculative-grade senior secured

...- We have assigned preliminary ratings to Rockford Tower Europe CLO 2021-2 DAC's notes. - The transaction securitizes a pool of primarily syndicated senior secured loans or bonds. LONDON (S&P Global Ratings) Nov. 11, 2021--S&P Global Ratings today assigned its preliminary credit ratings to Rockford Tower Europe CLO 2021-2 DAC's class X, A, B, C, D, E, and F notes. At closing, the issuer will issue unrated subordinated notes (see list above). Under the transaction documents, the rated notes will pay quarterly interest unless there is a frequency switch event. Following this, the notes will switch to semiannual payment. The preliminary ratings assigned to the notes reflect our assessment of: - The diversified collateral pool, which primarily comprises broadly syndicated speculative-grade senior secured term loans and bonds that are governed by collateral quality tests. - The credit enhancement provided through the subordination of cash flows, excess spread, and overcollateralization. - The...

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