KBRA Assigns Preliminary Ratings to RRE 1 Loan Management DAC
LONDON–(BUSINESS WIRE)–Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes to be issued by RRE 1 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds.
RRE 1 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”). The CLO originally closed in April 2019. This transaction will reset the terms of the CLO, including the stated maturity, non-call period, reinvestment period, note interest rates and notional balances. Proceeds from the issuance of the new CLO notes will be used to redeem the outstanding notes in full…
