DBRS Places Senior and Mezzanine Funding Facilities of Salt Creek CLO, Ltd. Under Review with Developing Implications

DBRS, Inc. (DBRS) placed the following ratings to the Senior Funding Facility and the Mezzanine Funding Facility (together, the Facilities) of Salt Creek CLO, Ltd. Under Review with Developing Implications:

-- Senior Funding Facility due March 2026 rated A (sf)
-- Mezzanine Funding Facility due March 2026 rated BBB (low) (sf)

The Facilities are undrawn, and the portfolio is out of the reinvestment period. The lenders, however, could amend to permit future investments. As a result, the ratings are placed Under Review with Developing Implications. Generally, the conditions that lead to the assignment of reviews are resolved within a 90-day period, but DBRS expects that the ratings of the Facilities will be Under Review with Developing Implications for six months.

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

The principal methodology is Rating CLOs and CDOs of Large Corporate Credit, which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

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