Press Release|Structured Credit
View PDF

KBRA Assigns Ratings to Guggenheim MM-C CLO 2025-9 LLC

4 Dec 2025   |   New York

Contacts

KBRA assigns ratings to five classes of notes issued by Guggenheim MM-C CLO 2025-9 LLC, a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of primarily middle market corporate loans.

Guggenheim MM-C CLO 2025-9 LLC (the “Issuer”) is a $400 million cash flow collateralized loan obligation (“CLO”) managed by Guggenheim Corporate Funding, LLC. The notes are collateralized by a $407.0 million portfolio of primarily middle market senior secured term loans to corporate borrowers. The transaction is a refinancing and extension of Guggenheim MM-C CLO 2023-5 LLC, which originally closed in July 2023.

On the amendment closing date, the original notes were repaid from proceeds of the replacement notes and the Issuer’s name was changed. KBRA has withdrawn ratings on the original classes of notes that were redeemed.

The transaction has a four-year reinvestment period and the legal final maturity is on January 25, 2038. The rated notes benefit from internal credit enhancement through subordination, overcollateralization, and excess spread. The collateral portfolio is comprised primarily of first lien, senior secured middle market loans and has an initial K-WARF of 3253.

The ratings on the Class A-1R, A-2R, A-3R, and B-R Notes consider the timely payment of interest and ultimate payment of principal by the applicable stated maturity date, while the ratings on the Class C-R Notes consider the ultimate payment of interest and principal by the applicable stated maturity date.

To access ratings and relevant documents, click here.

Click here to view the report.

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: 1012566