OREANDA-NEWS. S&P Global Ratings today assigned a rating of 'AAA (sf)' to the class A-1R2 replacement notes from CIFC Funding 2012-I Ltd., a U. S. collateralized loan obligation (CLO) transaction managed by CIFC Asset Management LLC. We withdrew our rating on the transaction's class A-1R notes after they were fully redeemed. In addition, we affirmed our ratings on the transaction's class A-2R, A-3R, B-1R, B-2R, and B-3R notes that were not a part of the refinancing. (See ratings list.)

On the Aug. 15, 2016 refinancing date, the proceeds from the replacement note issuance were used to redeem the original notes, as outlined in the transaction document provisions. Therefore, we withdrew the rating on the transaction's original A-1R notes in line with their full redemption and assigned a rating to the transaction's replacement notes. The rating reflects our opinion that the credit support available is commensurate with the associated rating level.

We will continue to review whether, in our view, the ratings assigned to the transaction remain consistent with the credit enhancement available to support them, and we will take rating actions as we deem necessary.