We reviewed our ratings on six classes from Parliament Funding II Ltd. and Parliament CLO II Ltd., which are U.S. cash flow CLO transactions. Of the six ratings, we raised four, affirmed one, and withdrew one. At the same time, we also removed four ratings from CreditWatch positive. The upgrades reflect improved overcollateralization ratios following senior note paydowns. The affirmed ratings reflect our view that the credit support available is commensurate with the current rating level, while the withdrawal of our rating on one tranche reflects that its notional balance has been paid off in full. TORONTO (S&P Global Ratings) May 13, 2025--S&P Global Ratings today completed its review of six classes from Parliament Funding II Ltd. and Parliament CLO
