DBRS Assigns AA (low) (sf) Rating to the Cerberus Offshore Levered I L.P. Revolving Credit Facility

DBRS has today assigned a rating of AA (low) (sf) to the Cerberus Offshore Levered I L.P. Revolving Credit Facility up to a Total Commitment amount of $40,796,290.11. Cerberus Offshore Levered I L.P. is collateralized primarily by a portfolio of U.S. middle market corporate loans and other corporate obligations. Cerberus Offshore Levered I L.P. is a revolving transaction managed by COL I GP Inc., an affiliate of Cerberus Capital Management, L.P. The DBRS rating addresses Cerberus Offshore Levered I L.P.’s ability to make timely payments of interest and ultimate payment of principal on or before the Final Maturity Date of the Revolving Credit Facility.

The Rating reflects the following:

(1) The Credit Agreement dated September 15, 2011.

(2) The integrity of the transaction structure.

(3) DBRS’s assessment of the portfolio quality.

(4) Adequate credit enhancement to withstand projected collateral loss rates under various cash flow stress scenarios.

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

The rating is based on information provided by the Administrative Agent to DBRS to date.

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