S&P: Various Rating Actions Taken On CIFC Funding 2012-I Ltd. After Refinancing
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.
Комментарии