Press Release|Structured Credit
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KBRA Affirms Ratings for Stone Point Credit MM CLO 2025-1, LLC

29 Jan 2026   |   New York

Contacts

KBRA affirms ratings for six classes of notes issued by Stone Point Credit MM CLO 2025-1, LLC (“Stone Point 2025-1”), a delayed draw collateralized loan obligation backed by a portfolio of middle market senior secured loans.

Stone Point 2025-1 is a $300 million delayed-draw cash flow collateralized loan obligation (“CLO”) managed by Stone Point Credit Adviser LLC (“Stone Point” or the “manager”). The transaction closed in February 2025 and has 4 years remaining in the reinvestment period.

As of the November 2025 trustee report, the aggregate principal balance of the collateral obligations is $150.1 million and there is a principal proceeds balance of $11.7 million. There are no defaulted assets as of November 2025.

Based on the November 2025 trustee report, the portfolio comprises assets from 42 obligors. The Class A/B Overcollateralization Ratio is 153.67%. The portfolio has a K-WARF of 2895, which represents a weighted average credit assessment of B/B-.

KBRA's ratings on Class A, Class B, and Class C Notes consider timely payment of interest and ultimate payment of principal by the applicable stated maturity date. The ratings on Class D, Class E, and Class F Notes consider ultimate payment of interest and ultimate payment of principal by the applicable stated maturity date.

To access ratings and relevant documents, click here.

Click here to view the report.

Related Publication

Methodologies

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1013244