DBRS Places Seal Rock Offshore Funding Under Review with Developing Implications

DBRS has today placed the $900 Million Facility (the Facility) issued by Seal Rock Offshore Funding, L.L.C. (Seal Rock) Under Review with Developing Implications. The Facility is collateralized by a portfolio of U.S. high-yield corporate loans. The DBRS rating addresses Seal Rock’s ability to make timely payments of interest and full payment of principal on or before the Facility’s legal maturity date.

The Facility was initially assigned a DBRS rating on July 7, 2008.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Global High Yield Securitizations, Structured Loans, and Tranched Credit Derivatives, which can be found under our website under Methodologies.

This is a Structured Finance rating.