Gramercy Park CLO Ltd./Gramercy Park CLO Corp. Ratings Affirmed Following The Transaction's Effective Date Jan 13
- ID: 2384447
- January 2013
- Standard & Poors
OVERVIEW Gramercy Park CLO Ltd./Gramercy Park CLO Corp.'s floating-rate note issuance is backed by a revolving pool consisting primarily of broadly syndicated senior secured loans. We affirmed our ratings on the class A-1, A-2, B, C, and D notes following the transaction's effective date as of Oct. 31, 2012. The "effective date" for a CLO transaction is typically the earlier of the date on which the transaction acquires the target level of portfolio collateral and the date defined in the transaction documents. When requested, Standard & Poor's will analyze the information provided by the trustee and determine whether it believes a rating affirmation is appropriate. Historically, many CLOs transaction documents contain provisions that require the trustee to request the rating...
Companies mentioned in this report are:
- Gramercy Park CLO Ltd.
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