Collateralized loan obligation

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: February 2021

Retrieved on: 
Tuesday, March 23, 2021
Professional services, Finance, Loans, Economy, Financial law, Credit, Syndicated loan, Credit rating agency, Collateralized loan obligation, Structured finance, CLO

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.
  • In this report, we provide an update on U.S. CLO sector exposure and overall industry credit quality, based on reported data from March 2020 through February 2021 trustee reports for a representative sample of transactions.
  • We also include the Structured Credit Publication Index, which contains links to recent KBRA reports within the Structured Credit sector.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: January 2021
    KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada.

OFS Credit Company Provides February 2021 Net Asset Value Update

Retrieved on: 
Tuesday, March 16, 2021
Professional services, Finance, Money, Finance, Economy, Loans, Collateralized loan obligation, Mortgage, Net asset value, Specialized investment fund

OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) equity and debt securities, today announced the following net asset value (NAV) estimate as of February 28, 2021.

Key Points: 
  • OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) equity and debt securities, today announced the following net asset value (NAV) estimate as of February 28, 2021.
  • This estimate is not a comprehensive statement of our financial condition or results for the month ended February 28, 2021.
  • We advise you that our NAV per share as of April 30, 2021, which will be reported in our Form N-CSR, may differ materially from this estimate.
  • OFS Credit is a non-diversified, externally managed closed-end management investment company.

KBRA Assigns Preliminary Ratings to Carlyle US CLO 2021-3S, Ltd.

Retrieved on: 
Friday, March 12, 2021
Professional services, Finance, Money, Finance, Economy, Loans, Structured finance, Credit, Collateralized loan obligation, Mortgage, CLO, Carlyle, Credit rating agency, Credit enhancement

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Carlyle US CLO 2021-3S, Ltd. (Carlyle 2021-3S), a cash flow collateralized loan obligation (CLO) back by a diversified portfolio of broadly syndicated corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Carlyle US CLO 2021-3S, Ltd. (Carlyle 2021-3S), a cash flow collateralized loan obligation (CLO) back by a diversified portfolio of broadly syndicated corporate loans.
  • Carlyle 2021-3S is managed by Carlyle US CLO 2021-3S, LLC (Carlyle 2021-3S or the collateral manager) and will have a five-year reinvestment period.
  • The ratings reflect initial credit enhancement levels, excess spread, and coverage tests including overcollateralization ratio and interest coverage tests.
  • The collateral in Carlyle 2021-3S will mainly consist of broadly syndicated leveraged loans issued by corporate obligors diversified across sectors.

Saratoga Investment Corp. Prices Offering of $50 Million of 4.375% Notes Due 2026

Retrieved on: 
Wednesday, March 3, 2021
Finance, Money, Loans, Economy, Collateralized loan obligation, Mortgage, Business Development Company, CLO

NEW YORK, NY, March 03, 2021 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE: SAR) (the Company) today announced that it priced a public offering of $50million aggregate principal amount of 4.375% notes due 2026 (the Notes) on March 3, 2021.

Key Points: 
  • NEW YORK, NY, March 03, 2021 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE: SAR) (the Company) today announced that it priced a public offering of $50million aggregate principal amount of 4.375% notes due 2026 (the Notes) on March 3, 2021.
  • Saratoga Investment Corp. has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on private credit and equity-driven strategies.
  • Saratoga Investment Corp. owns two SBIC-licensed subsidiaries and manages a collateralized loan obligation (the Saratoga CLO) fund.
  • It also owns 100% of the Class F-R-3 and subordinated notes of the $650 million Saratoga CLO.

KBRA Assigns Preliminary Ratings to ICG US CLO 2021-2, Ltd.

Retrieved on: 
Wednesday, March 3, 2021
Professional services, Finance, Money, Finance, Economy, Loans, Structured finance, Collateralized loan obligation, Mortgage, Credit, CLO, Credit enhancement, Credit rating agency

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by ICG US CLO 2021-2, Ltd. (ICG US CLO 2021-2), a cash flow collateralized loan obligation (CLO) back by a diversified portfolio of broadly syndicated corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by ICG US CLO 2021-2, Ltd. (ICG US CLO 2021-2), a cash flow collateralized loan obligation (CLO) back by a diversified portfolio of broadly syndicated corporate loans.
  • ICG US CLO 2021-2 is managed by ICG Debt Advisors LLC (ICG or the collateral manager) and will have a five-year reinvestment period.
  • The ratings reflect initial credit enhancement levels, excess spread, and coverage tests including overcollateralization ratio and interest coverage tests.
  • The collateral in ICG US CLO 2021-2 will mainly consist of broadly syndicated leveraged loans issued by corporate obligors diversified across sectors.

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: January 2021

Retrieved on: 
Tuesday, February 23, 2021
Professional services, Health, Infectious diseases, Insurance, Finance, Banking, Money, Finance, Loans, Economy, Financial law, Nationally recognized statistical rating organization, Credit rating agency, Collateralized loan obligation, Syndicated loan, CLO

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.
  • In this report, we provide an update on U.S. CLO sector exposure and overall industry credit quality, based on reported data from March 2020 through January 2021 trustee reports for a representative sample of transactions.
  • We also include the Structured Credit Publication Index, which contains links to recent KBRA reports within the Structured Credit sector.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: December 2020
    KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

KBRA Assigns Preliminary Ratings to Wind River 2021-1 CLO Ltd.

Retrieved on: 
Monday, February 22, 2021
Other Professional Services, Professional services, Finance, Finance, Money, Economy, Loans, Credit, Structured finance, Mortgage, Collateralized loan obligation, Credit enhancement, Credit rating agency, Collateral

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Wind River 2021-1 CLO Ltd. (Wind River 2021-1), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated senior secured leveraged loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Wind River 2021-1 CLO Ltd. (Wind River 2021-1), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated senior secured leveraged loans.
  • Wind River 2021-1 is managed by First Eagle Alternative Credit, LLC (First Eagle or the collateral manager) and will have a five-year reinvestment period.
  • The ratings reflect initial credit enhancement levels, excess spread, and coverage tests including overcollateralization ratio and interest coverage tests.
  • The collateral in Wind River 2021-1 will mainly consist of broadly syndicated senior secured leveraged loans issued by corporate obligors diversified across sectors.

OFS Credit Company Provides January 2021 Net Asset Value Update

Retrieved on: 
Wednesday, February 17, 2021
Banking, Professional services, Finance, Loans, Collateralized loan obligation, Mortgage, Financial law, Financial services

OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) equity and debt securities, today announced the following net asset value (NAV) estimate as of January 31, 2021.

Key Points: 
  • OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) equity and debt securities, today announced the following net asset value (NAV) estimate as of January 31, 2021.
  • Managements unaudited estimate of the range of our NAV per share of our common stock as of January 31, 2021 is between $14.09 and $14.19.
  • This estimate is not a comprehensive statement of our financial condition or results for the month ended January 31, 2021.
  • OFS Credit is a non-diversified, externally managed closed-end management investment company.

KBRA Assigns Preliminary Ratings to BlackRock Rainier CLO VI, Ltd.

Retrieved on: 
Tuesday, February 9, 2021
Banking, Professional services, Finance, Finance, Money, Loans, Economy, Structured finance, Collateralized loan obligation, Mortgage, Credit, BlackRock, CLO, Credit enhancement

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes and one class of loans issued by BlackRock Rainier CLO VI, Ltd. (BlackRock Rainier CLO VI), a cash flow collateralized loan obligation (CLO) back by a diversified portfolio of middle market corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes and one class of loans issued by BlackRock Rainier CLO VI, Ltd. (BlackRock Rainier CLO VI), a cash flow collateralized loan obligation (CLO) back by a diversified portfolio of middle market corporate loans.
  • BlackRock Rainier CLO VI is managed by BlackRock Capital Investment Advisors, LLC (BlackRock or the collateral manager) and will have a four-year reinvestment period.
  • The ratings reflect initial credit enhancement levels, excess spread, and coverage tests including overcollateralization ratio and interest coverage tests.
  • The collateral in BlackRock Rainier CLO VI will mainly consist of middle market leveraged loans issued by corporate obligors diversified across sectors.

KBRA Assigns Preliminary Ratings to Octagon 52, Ltd.

Retrieved on: 
Friday, February 5, 2021
Professional services, Finance, Money, Finance, Economy, Loans, Structured finance, Mortgage, Credit, Collateralized loan obligation, Credit enhancement, Credit rating agency

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Octagon 52, Ltd. (Octagon 52), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated senior secured leveraged loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Octagon 52, Ltd. (Octagon 52), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated senior secured leveraged loans.
  • Octagon 52 is managed by Octagon Credit Investors, LLC (Octagon or the collateral manager) and will have a five-year reinvestment period.
  • The ratings reflect initial credit enhancement levels, excess spread, and coverage tests including overcollateralization ratio and interest coverage tests.
  • KBRAs preliminary ratings on the Class C and D Notes consider ultimate payment of interest and principal by the applicable stated maturity date.