ARC - Rating List - Structured Finance

ISSUER	ISSUE	RATING	OUTLOOK	NEXT REVIEW DATE	RATING ACTION


Issues Medium and Long Term

Aqueduct European CLO 5-2020 DAC	1ST STRUCTURE

Aqueduct European CLO 5-2020 DAC	Senior Funding Facility	A+(sf)	Negative	10/06/2021

Aqueduct European CLO 5-2020 DAC	2ND STRUCTURE

Aqueduct European CLO 5-2020 DAC	Senior Funding Facility	Paid in full	-	-

Aqueduct European CLO 5-2020 DAC	Mezzanine Funding Facility	Paid in full	-	-

Adagio CLO VIII DAC	Senior Funding Facility	Paid in full	-	-

Adagio CLO VIII DAC	Mezzanine Funding Facility	Paid in full	-	-

Anchorage Capital Europe CLO 3 DAC	Senior Funding Facility	Paid in full	-	-

Anchorage Capital Europe CLO 3 DAC	Mezzanine Funding Facility	Paid in full	-	-

Anchorage Europe Credit Funding 1 DAC	Class A Notes	AA-(sf)	Stable	10/09/2020

Anchorage Europe Credit Funding 1 DAC	Class B Notes	A-(sf)	Stable	10/09/2020

Anchorage Europe Credit Funding 1 DAC	Class C Notes	BBB-(sf)	Stable	10/09/2020

Anchorage Europe Credit Funding 1 DAC	Class D Notes	BB-(sf)	Stable	10/09/2020

Aqueduct European CLO 2-2017 DAC	Senior Tranche	Paid in full	-	-

Aqueduct European CLO 2-2017 DAC	Mezzanine Tranche	Paid in full	-	-

Armstrong AssetCo S.Á.R.L.	Balance Guaranteed Swap	Withdrawn	-	-

Audley Funding PLC - Series 2017-F2 Secured Notes	Series 2017-F2 GBP Secured Notes	BB+(sf) (Under review)	Negative (Under review)	16/07/2020

Audley Funding PLC - Series 2017-F2 Secured Notes	Series 2017-F2 USD Secured Notes	BB+(sf) (Under review)	Negative (Under review)	16/07/2020

Aurium CLO III Limited	Senior Tranche	Paid in full	-	-

Aurium CLO III Limited	Mezzanine Tranche	Paid in full	-	-

Austreo Commercial Ventures Pty Ltd.	Guaranteed Floating Rate Loans	Paid in full	-	-

B-Consumer SA	Class A Senior Notes	AA(sf)	Stable	22/07/2020

B-Consumer SA	Class B Mezzanine Notes	AA(sf)	Stable	22/07/2020

Bain Capital Credit Global ICAV	Facility	A-(sf)	Negative	31/08/2020

Barings EURO CLO 2017-1 B.V. Limited Warehouse	Senior Tranche	Paid in full	-	-

Barings EURO CLO 2017-1 B.V. Limited Warehouse	Mezzanine Tranche	Paid in full	-	-

Barings EURO CLO 2017-2 B.V. Limited	Senior Tranche	Paid in full	-	-

Barings EURO CLO 2017-2 B.V. Limited	Mezzanine Tranche	Paid in full	-	-

Belmont Green Funding 1 Limited	Class A1a / A2a Loan Notes	Withdrawn	-	-

Belmont Green Funding 1 Limited	Class A1b / A2b Loan Notes	Withdrawn	-	-

Belmont Green Funding 1 Limited	Class A1c / A2c Loan Notes	Withdrawn	-	-

Belmont Green Funding 5 Limited	Class A Notes	Withdrawn	-	-

Belmont Green Funding 5 Limited	Class B Notes	Paid in full	-	-

Belmont Green Funding 5 Limited	Class C Notes	BBB(sf)	Stable	26/03/2021

BGSL Breckenridge Funding LLC	Revolving Credit Facility	BBB(sf)	Stable	11/05/2021

Blackrock European CLO III	Senior Tranche	Paid in full	-	-

Blackrock European CLO III	Mezzanine Tranche	Paid in full	-	-

BlackRock European CLO VII DAC	Senior Funding Facility	Paid in full	-	-

BlackRock European CLO VII DAC	Mezzanine Funding Facility	Paid in full	-	-

BlueMountain Fuji EUR CLO III DAC	Senior Tranche	Paid in full	-	-

BlueMountain Fuji EUR CLO III DAC	Mezzanine Tranche	Paid in full	-	-

BNPP AM Euro CLO 2019 B.V.	Senior Funding Facility	Paid in full	-	-

Bosphorus CLO IV DAC	Senior Funding Facility	Paid in full	-	-

BUMA LUX II Europe S.C.S. SICAV-RAIF	Notes issued in bearer form	BBB(sf)	Stable	17/09/2020

Bumper NL 2018 B.V.	Senior Loan	Paid in full	-	-

Cadogan Square CLO VIII DAC	Senior Tranche - EUR 295 million	Paid in full	-	-

Cadogan Square CLO VIII DAC	Mezzanine Tranche - EUR 55 million	Paid in full	-	-

Cadogan Square CLO X B.V.	Senior Tranche	Paid in full	-	-

Cadogan Square CLO X B.V.	Mezzanine Tranche	Paid in full	-	-

Cadogan Square CLO XIII DAC	Senior Funding Facility	Paid in full	-	-

Cadogan Square CLO XIII DAC	Mezzanine Funding Facility	Paid in full	-	-

Cairn Loan Opportunity VI B.V.	Senior Tranche - EUR 120 million	Paid in full	-	-

Cairn Loan Opportunity VI B.V.	Mezzanine Tranche - EUR 40 million	Paid in full	-	-

Cairn Loan Opportunity VII B.V. Warehouse	Senior Tranche - EUR 120 million	Paid in full	-	-

Cairn Loan Opportunity VII B.V. Warehouse	Mezzanine Tranche - EUR 40 million	Paid in full	-	-

Cairn Loan Opportunity X B.V	Senior Tranche	Paid in full	-	-

Cairn Loan Opportunity X B.V	Mezzanine Tranche	Paid in full	-	-

Carlyle Euro CLO 2018-3 DAC	Senior Funding Facility	Paid in full	-	-

CLF XI DAC	Senior Tranche	Paid in full	-	-

CLF XI DAC	Mezzanine Tranche	Paid in full	-	-

Clooney Issuer DAC	Facility	A(sf)	Negative	31/08/2020

Cobalt AssetCo S.à r.l.	Balance Guaranteed Swap	Withdrawn	-	-

Corporate Finance Bonds - Series 10	Series 10	Withdrawn	-	-

Corporate Finance Bonds - Series 9	Series 9	Withdrawn	-	-

CVC Cordatus Loan Fund XII DAC	Senior Funding Facility	Paid in full	-	-

CVC Credit Partners Multi-Strategy 2018-1 (EU), S.A.R.L.	Revolving Credit Facility	AA-(sf)	Negative	15/06/2021

CVC Credit Partners Multi-Strategy 2018-1 (US), Ltd.	Revolving Credit Facility	AA-(sf)	Negative	15/06/2021

Dover Harcourt PLC	Series 2017-F1 Secured Notes	Withdrawn	-	-

Driver UK Multi-Compartment S.A.	Class A Notes	AAA(sf)	Stable	06/04/2021

Driver UK Multi-Compartment S.A.	Class B Notes	A+(sf)	Stable	06/04/2021

Dryden 46 Euro CLO 2016 B.V.	Senior Tranche - EUR 227 million	Paid in full	-	-

Dryden 46 Euro CLO 2016 B.V.	Mezzanine Tranche - EUR 35 million	Paid in full	-	-

Dryden 58 CLO, LTD	Revolving Warehouse Credit Facility	Paid in full	-	-

Dryden 62 Euro CLO 2017 B.V.	Senior Tranche	Paid in full	-	-

Dryden 62 Euro CLO 2017 B.V.	Mezzanine Tranche	Paid in full	-	-

Dryden 63 GBP CLO 2018 B.V.	Senior Funding Facility	Paid in full	-	-

Dryden 63 GBP CLO 2018 B.V.	Senior Mezzanine Funding Facility	Paid in full	-	-

EEW Capital Finance PLC	2019-EEW1 Series	Withdrawn	-	-

Ellington European CLO I DAC	Senior Funding Facility	Withdrawn	-	-

Ellington European CLO I DAC	Mezzanine Funding Facility	Withdrawn	-	-

ELQ Investors II Ltd	Guaranteed Floating Rate Notes	BBB(sf)	Stable	17/06/2021

ELQ Investors VI Ltd	Guaranteed Floating Rate Notes	BBB(sf)	Stable	17/06/2021

ELQ Investors VIII Ltd	Guaranteed Floating Rate Loan	BBB(sf)	Stable	17/06/2021

Escher Marwick PLC, Just Cash Flow PLC	Series 2016-7 Notes	Paid in full	-	-

Escher Marwick PLC, Just Cash Flow PLC	Series 2016-8 Notes	Withdrawn	-	-

Everglades Credit LLC	Revolving Credit Facility	A(sf)	Stable	30/11/2020

Fasanara Investments SA	Global Alternative Debt Fund	AA(f)	Stable	22/02/2021

FC Commercial Real Estate Investments DAC	Class A Senior Notes	Withdrawn	-	-

FC Commercial Real Estate Investments DAC	Class B Senior Notes	Withdrawn	-	-

Finalbion SV S.A.	Class A Notes	A(sf)	Stable	25/03/2021

Fitzroy 2018-1 CLO DAC - Credit Linked Notes	Class A - Credit Linked Notes	AAA(sf)	Stable	02/11/2020

Fitzroy 2018-1 CLO DAC	Class A Credit Protection Deed Tranche	AAA(sf)	Stable	28/09/2020

Fitzroy 2018-1 CLO DAC	Class B Credit Protection Deed Tranche	AA(sf)	Stable	28/09/2020

Fitzroy 2018-1 CLO DAC	Class C Credit Protection Deed Tranche	A(sf)	Stable	28/09/2020

Fitzroy 2018-1 CLO DAC	Class D Credit Protection Deed Tranche	BBB(sf)	Stable	28/09/2020

Fitzroy 2018-1 CLO DAC	Class E Credit Protection Deed Tranche	BB(sf)	Stable	28/09/2020

German Listed Bonds PLC	Senior Secured Notes Series 1	Withdrawn	-	-

GLM EUR BAR WH DAC	Senior Tranche	Paid in full	-	-

GLM EUR BAR WH DAC	Mezzanine Tranche	Paid in full	-	-

GLO Capital PLC	Series 2018-F1 Fixed Rate Secured Notes	Withdrawn	-	-

GLQC S.À.R.L.	Series 2019-AA	BBB(sf)	Stable	17/06/2021

GLQC S.À.R.L.	Series 2020-AE	BBB(sf)	Stable	17/06/2021

GLQC S.À.R.L.	Series 2019-AB	BBB(sf)	Stable	17/06/2021

GLQC S.À.R.L.	Series 2019-AC	BBB(sf)	Stable	17/06/2021

GLQC S.À.R.L.	Series 2019-AD	BBB(sf)	Stable	17/06/2021

GLQC S.À.R.L.	Series 2020-3	BBB(sf)	Stable	17/06/2021

GLQL S.À.R.L.	Series 2019-B	BBB(sf)	Stable	17/06/2021

Harvest CLO XXI DAC	Senior Funding Facility	Paid in full	-	-

Harvest CLO XXI DAC	Mezzanine Funding Facility	Paid in full	-	-

Helios SPV SRL	Class A Securities	Withdrawn	-	-

Hitachi Capital (UK) PLC	Consumer Loan	Paid in full	-	-

House of Tulips, S.A.	Class A1 and A2 Limited Recourse Notes	Paid in full	-	-

Ingard Property Bond 2 DAC	Secured Notes	Withdrawn	-	-

Innovation Capital Finance Limited	Senior Secured Notes – Series 1	Withdrawn	-	-

Invesco Euro CLO I DAC	Senior Funding Facility	Paid in full	-	-

Invesco Euro CLO I DAC	Mezzanine Funding Facility	Paid in full	-	-

Iovanius S.à r.l	Facility	A-(sf)	Negative	02/08/2020

JCF 2021 Bonds PLC	Senior Secured Bonds	Withdrawn	-	-

JUBILEE CLO 2017-XVIII B.V.	Senior Tranche	Paid in full	-	-

JUBILEE CLO 2017-XVIII B.V.	Mezzanine Tranche	Paid in full	-	-

Jubilee CLO 2018-XX B.V.	Senior VFN Facility	Paid in full	-	-

Jubilee CLO 2018-XXII B.V.	Senior Funding Facility	Paid in full	-	-

Jubilee CLO 2018-XXII B.V.	Mezzanine Funding Facility	Paid in full	-	-

Linklease Finance PLC	Senior Secured Notes	Withdrawn	-	-

MAN GLG EURO CLO VI DAC	Senior Funding Facility	Paid in full	-	-

MAN GLG EURO CLO VI DAC	Mezzanine Funding Facility	Paid in full	-	-

Mercer Investments (Singapore) Pte. Ltd.	Series 2019-EA	BBB(sf)	Stable	17/06/2021

Mercer Investments (Singapore) Pte. Ltd.	Series 2019-EB	BBB(sf)	Stable	17/06/2021

Mercer Investments (Singapore) Pte. Ltd.	Series 2020-A	BBB(sf)	Stable	17/06/2021

Mercer Investments (Singapore) Pte. Ltd.	Series 2020-B	BBB(sf)	Stable	17/06/2021

Monaghan Securities RMBS DAC	Class A Loan Facility	A(sf)	Stable	31/08/2020

Monaghan Securities RMBS DAC	Class B Loan Facility	BBB(sf)	Stable	31/08/2020

Neuberger Berman European CLO IV	Senior Tranche	Paid in full	-	-

Neuberger Berman European CLO IV	Mezzanine Tranche	Paid in full	-	-

Neutral Capital Finance Plc	Series 2019-NF1 Notes	Withdrawn	-	-

Nightingale 2016-1	Senior Tranche	AAA(sf)	Stable	07/12/2020

Nightingale CRE 2018-1 Limited	Senior Guarantee Tranche A	AAA(sf)	Negative	05/10/2020

Nightingale CRE 2018-1 Limited	Senior Guarantee Tranche B	AA(sf)	Negative	05/10/2020

Nightingale CRE 2018-1 Limited	Senior Guarantee Tranche C	A(sf)	Negative	05/10/2020

Nightingale CRE 2018-1 Limited	Senior Guarantee Tranche D	BBB+(sf)	Negative	05/10/2020

Nixes Six PLC	A4 Loan Notes	Withdrawn	-	-

OC Finance	Trade Finance Bond	Withdrawn	-	-

Optimum One S.á r.l.	Senior Secured Notes	Paid in full	-	-

Optimum Three Limited	Senior Secured Loans	Withdrawn	-	-

OZMLE II DAC	Senior Tranche	Paid in full	-	-

PAF Securitisation No.1 PLC	Class A1 & Class A2 Notes	AAA(sf)	Stable	01/03/2021

PAF Securitisation No.1 PLC	Class B1 & Class B2 Notes	A(sf)	Stable	01/03/2021

Permira Credit Solutions II Financing LS S.à r.l.	Senior Funding Facility	Paid in full	-	-

Permira Credit Solutions II Financing Master LS S.à r.l.	Senior Funding Facility	Paid in full	-	-

PGGLF DAC	Senior Funding Facility	Paid in full	-	-

Polish Lease Prime 1 DAC	Class A1 Notes	AA-(sf)	Stable	28/09/2020

Polish Lease Prime 1 DAC	Class A1 Notes Uncapped	AAA(sf)(uncapped)	Stable	28/09/2020

Polish Lease Prime 1 DAC	Class A2 Notes	AA-(sf)	Stable	28/09/2020

Polish Lease Prime 1 DAC	Class A2 Notes Uncapped	AAA(sf)(uncapped)	Stable	28/09/2020

Polish Lease Prime 1 DAC	Class B Notes	BB+(sf)	Stable	28/09/2020

Port Funding 1 DAC	Senior Tranche	Paid in full	-	-

Port Funding 1 DAC	Mezzanine Tranche	Paid in full	-	-

Promontoria Challenger I, S.A.	Facility	Withdrawn	-	-

RED 2 Finance CLO 2018-1 DAC	Tranche A	AAA(sf)	Negative	31/08/2020

RED 2 Finance CLO 2018-1 DAC	Tranche B	AA(sf)	Negative	31/08/2020

RED 2 Finance CLO 2018-1 DAC	Tranche C	A+(sf)	Negative	31/08/2020

RED 2 Finance CLO 2018-1 DAC	Tranche D	BBB(sf)	Negative	31/08/2020

RED 2 Finance CLO 2018-1 DAC	Tranche E	BB+(sf)	Negative	31/08/2020

RED 2 Finance CLO 2018-1 DAC	Tranche F	BB-(sf)	Negative	31/08/2020

Regatta XII Funding Limited	Revolving Warehouse Credit Facility	Paid in full	-	-

Renew Project Finance CLO 2017-1 DAC	Class A Credit Protection Deed Tranche	Paid in full	-	-

Renew Project Finance CLO 2017-1 DAC	Class B Credit Protection Deed Tranche	Paid in full	-	-

Renew Project Finance CLO 2017-1 DAC	Class C Credit Protection Deed Tranche	Paid in full	-	-

Renew Project Finance CLO 2017-1 DAC	Class D Credit Protection Deed Tranche	Paid in full	-	-

Renew Project Finance CLO 2017-1 DAC	Class E Credit Protection Deed Tranche	Paid in full	-	-

RR EURO CLO Designated Activity Company	Senior Funding Facility	Paid in full	-	-

Shackleton 2017-XII CLO Funding LLC	Revolving Warehouse Credit Facility	Paid in full	-	-

SJP Partner Loans No.1 Limited	Senior Notes	AAA(sf)	Stable	18/05/2021

Sligo Limited	Secured Notes	Paid in full	-	-

SSG Capital Invest S.À.R.L.	Secured Notes	Paid in full	-	-

SSG Liquid Invest S.À.R.L.	Secured Notes	Paid in full	-	-

Synthesis Trade Finance I SA	Commodity Trade Finance Bond - USD 50 million	Withdrawn	-	-

TCF Loan Warehouse 3 DAC	Senior Tranche	Paid in full	-	-

TCF Loan Warehouse 3 DAC	Mezzanine Tranche	Paid in full	-	-

THL Credit Wind River 2019 CLO Ltd.	Revolving Warehouse Credit Facility	Paid in full	-	-

Upgrade Warehouse Trust 2018-1 Revolving Credit Facility	Revolving Credit Facility up to US$100m	BBB+(sf)	Stable	29/06/2021

Venture 36 CLO Limited	Revolving Warehouse Credit Facility	Paid in full	-	-

Wetherby II Securities 2018 DAC	Tranches 1A, 1B and 1C	Withdrawn	-	-

Wetherby II Securities 2018 DAC	Tranches 2A and 2B	Withdrawn	-	-

Wetherby II Securities 2018 DAC	Tranches 3A, 3B and 3C	Withdrawn	-	-

Wetherby II Securities 2018 DAC	Tranches 4A, 4B and 4C	Withdrawn	-	-

Wetherby II Securities 2018 DAC	Tranches 5A, 5B, 5C, 5D, 5E, 5F, 5G, 5H, 5I and 5J	Withdrawn	-	-

Wetherby II Securities 2018 DAC	Tranches 6A, 6B and 6C	Withdrawn	-	-

Wetherby II Securities 2018 DAC	Tranche 7A	Withdrawn	-	-

WOSL SPV 1 Limited	Variable Funding Notes	A(sf)	Stable	20/07/2020

Yellow AssetCo S.a.r.l.	Balance Guaranteed Swap	Withdrawn	-	-

York 2019-1 CLO DAC	Tranche A	AAA(sf)	Negative	31/08/2020

York 2019-1 CLO DAC	Tranche B	A(sf)	Negative	31/08/2020

York 2019-1 CLO DAC	Tranche C	BBB+(sf)	Negative	31/08/2020

York 2019-1 CLO DAC	Tranche D	BB+(sf)	Negative	31/08/2020

ZP Secured Direct Lending PLC	Secured Medium Term Note	Withdrawn	-	-


Servicer Quality

LendInvest	Servicer Quality	SQ1	Stable	31/07/2020