DBRS Confirms Rating on the Facility Issued by Senior Credit Fund SPV I, LLC and Removes Under Review with Positive Implications

DBRS, Inc. (DBRS) has today confirmed a rating of AA (sf) on the Facility issued by Senior Credit Fund SPV I, LLC, up to the total commitment of $200,000,000, as per the Revolving Credit and Security Agreement, dated as of November 19, 2014.

The Facility will be collateralized primarily by a portfolio of U.S. middle-market corporate loans and other corporate obligations. Senior Credit Fund SPV I, LLC is managed by Senior Credit Fund, LLC, a joint venture partnership formed between a private business development company managed by Goldman Sachs Asset Management, L.P. and a U.S. retirement and endowment fund.

The DBRS rating on the Facility addresses Senior Credit Fund SPV I, LLC’s ability to make timely payments of interest and ultimate payment of principal on or before the Final Maturity Date (as defined in the Revolving Credit and Security Agreement referred to above).

DBRS has also removed the Under Review with Positive Implications status on the Facility. The rating action reflects the conclusion of the impact review of the updates to the Rating CLOs and CDOs of Large Corporate Credit methodology. Updates to the methodology include (a) additional recovery rates for non-investment grade rating categories and (b) minor updates to country tiers.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating CLOs and CDOs of Large Corporate Credit (April 2015), which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.