KBRA Assigns Preliminary Ratings to RRE 18 Loan Management DAC
KBRA UK (KBRA) assigns preliminary ratings to seven classes of notes and one of loans issued by RRE 18 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans.
- KBRA UK (KBRA) assigns preliminary ratings to seven classes of notes and one of loans issued by RRE 18 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans.
- RRE 18 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”).
- The ratings reflect initial credit enhancement levels, coverage tests including par value and interest coverage tests, excess spread, and a reinvestment overcollateralisation test.
- The collateral in RRE 18 Loan Management DAC will mainly consist of broadly syndicated leveraged loans and bonds issued by corporate obligors diversified across sectors.