OREANDA-NEWS. S&P Global Ratings today assigned its ratings to the A-1L-R, A-2L-R, A-3L-R, and B-1L-R replacement notes from Atlas Senior Loan Fund Ltd., a U. S. collateralized loan obligation (CLO) transaction managed by Crescent Capital Group L. P. We withdrew our ratings on the original class A-1L, A-2L, A-3F, A-3L, and B-1L notes from this transaction after they were fully redeemed and affirmed our ratings on the outstanding class B-2L and B-3L notes (see list). The $25 million floating-rate class A-3L-R refinancing note replaces both the $10 million fixed-rate class A-3F note and the $15 million floating-rate class A-3L note.

On the Aug. 15, 2016, refinancing date, the proceeds from the replacement notes issuances were used to redeem the original notes as outlined in the transaction document provisions. Therefore, we withdrew our ratings on the original notes in line with their full redemption, and assigned ratings to the replacement notes. The assigned ratings and rating affirmations reflect our opinion that the credit support available is commensurate with the associated rating levels.

S&P Global Ratings will continue to review whether, in its view, the ratings assigned to the notes remain consistent with the credit enhancement available to support them and take rating actions as it deems necessary.