DBRS Morningstar Discontinues Rating on Class A Notes Issued by AIG CLO 2019-1, Ltd

DBRS, Inc. (DBRS Morningstar) discontinued its rating on the Class A Notes (the Notes) issued by AIG CLO 2019-1, Ltd as the Issuer and AIG CLO 2019-1, LLC as the Co-Issuer (together, with the Issuer, the Co-Issuers).

The rating on the Notes was issued pursuant to the Indenture, dated as of March 21, 2019, among AIG CLO 2019-1, Ltd as the Issuer; AIG CLO 2019-1, LLC as the Co-Issuer; and U.S. Bank National Association (rated AA (high) with a Stable trend by DBRS Morningstar) as the Trustee.

The discontinuation reflects the full repayment of the Notes issued by AIG CLO 2019-1, Ltd.

For more information regarding DBRS Morningstar’s additional adjustment for select industries related to the Coronavirus Disease (COVID-19), please see its May 18, 2020, commentary, “CLO Risk Exposure to the Coronavirus Disease (COVID-19)” at https://www.dbrsmorningstar.com/research/361112.

ESG CONSIDERATIONS
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.

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

The principal methodologies were Rating CLOs and CDOs of Large Corporate Credit (January 26, 2022) and Cash Flow Assumptions for Corporate Credit Securitizations (January 26, 2022), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

The DBRS Morningstar Sovereign group releases baseline macroeconomic scenarios for rated sovereigns. DBRS Morningstar analysis considered impacts consistent with the baseline scenarios as set forth in the following report: https://www.dbrsmorningstar.com/research/384482/baseline-macroeconomic-scenarios-application-to-credit-ratings.

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

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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