KEY RATING DRIVERS
Fitch has been notified of a proposed Supplemental Indenture that would cause a refinancing of the outstanding notes and amend certain terms and definitions of the indenture. The collateral portfolio continues to display stable performance since the last review in
The rating of the notes may be sensitive to the following: asset defaults, portfolio migration, including assets being downgraded to 'CCC', portions of the portfolio being placed on Rating Watch Negative, overcollateralization (OC) or interest coverage (IC) test breaches, or breach of concentration limitations or portfolio quality covenants. Fitch conducted rating sensitivity analysis on the closing date of Race Point VI, incorporating increased levels of defaults and reduced levels of recovery rates, among other sensitivities.
Initial Key Rating Drivers and Rating Sensitivity are further described in the New Issue Report published on
A comparison of the transaction's Representations, Warranties, and Enforcement Mechanisms (RW&Es) to those of typical RW&Es for that asset class is also available by accessing the reports and links indicated below.
Race Point VI is an arbitrage, cash flow collateralized loan obligation (CLO) that closed on
Fitch has taken the following rating actions, effective
Fitch does not rate the class B-R, C-R, D-R, E, or Subordinated notes.
Additional information is available at 'www.fitchratings.com'.
--'Global Structured Finance Rating Criteria' (
--'Global Rating Criteria for Corporate CDOs' (
--'Counterparty Criteria for Structured Finance and Covered Bonds' (
--'Race Point VI, CLO Limited New Issue Report' (
--'Race Point VI,
Counterparty Criteria for Structured Finance and Covered Bonds
Global Rating Criteria for Corporate CDOs
Global Structured Finance Rating Criteria
Primary Surveillance Analyst
Source: Fitch Ratings
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