DBRS Confirms AA (sf) Rating on the Advances of TPG SL SPV, LLC Revolving Credit Facility

DBRS, Inc. (“DBRS”) has today confirmed the rating of AA (sf) on the Revolving Credit Facility (the “Facility”) contemplating advances to be made by the lenders thereunder up to a total commitment amount of $175,000,000 pursuant to the Revolving Credit and Security Agreement dated as of January 21, 2014. The Facility is collateralized primarily by a portfolio of U.S. middle market corporate loans and other corporate obligations. The Facility is managed by TPG Specialty Lending, Inc. The DBRS rating addresses TPG SL SPV, LLC’s ability to make timely payments of interest and ultimate payment of principal on or before the Final Maturity Date of the Facility.

The rating action was taken to assess the impact of the execution of the proposed Amended and Restated Revolving Credit and Security Agreement dated as of January 21, 2014, among TPG SL SPV, LLC, as borrower, Natixis, New York Branch, as Facility Agent, the Lender parties thereto and State Street Bank and Trust Company, as Collateral Agent. The rating confirmation by DBRS does not signify the approval of the amendment by DBRS or an opinion by DBRS as to whether the amendment is beneficial or detrimental to the holders of the securities.

The principal methodology is Rating Methodology for CLOs and CDOs of Large Corporate Credit, which can be found on our website under Methodologies.

This credit rating has been issued outside the European Union (EU) and may be used for regulatory purposes by financial institutions in the EU.

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