Press Release|Structured Credit

KBRA Comments on Barings LLC Structured Credit Exposure

20 Mar 2024   |   New York


In light of the reported departures of key personnel from Barings LLC's private credit team, KBRA has reviewed its structured credit portfolio to identify potential exposures to this entity. KBRA rates Barings Loan Partners CLO Ltd.2, a broadly syndicated CLO that closed in December 2021 for which Barings LLC is the collateral manager.

KBRA has received confirmation from Barings that the portfolio management team that manages Barings Loan Partners CLO Ltd. 2 has not been impacted by the recent personnel departures. It is not expected that the transaction’s performance or its portfolio management will be negatively impacted by the recent events at this time.

KBRA continues to maintain active surveillance of Barings Loan Partners CLO Ltd. 2 and its broader portfolio of structured credit transactions. Should credit degradation occur as a result of recent events or otherwise KBRA may effectuate rating actions as necessary.

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About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1003620

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