April 14, 2021
Business News

KBRA Assigns Preliminary Ratings to ICG US CLO 2021-2, Ltd.

NEW YORK–()–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by ICG US CLO 2021-2, Ltd. (ICG US CLO 2021-2), a cash flow collateralized loan obligation (CLO) back by a diversified portfolio of broadly syndicated corporate loans.

ICG US CLO 2021-2 is managed by ICG Debt Advisors LLC (ICG or the collateral manager) and will have a five-year reinvestment period. The legal final maturity is on April 23, 2034. The ratings reflect initial credit enhancement levels, excess spread, and coverage tests including overcollateralization ratio and interest coverage tests.

The collateral in ICG US CLO 2021-2 will mainly consist of broadly syndicated leveraged loans issued by…

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