Moody’s assigned definitive ratings to Grosvenor Place notes

Moody’s ratings addresses the expected loss posed to noteholders by the legal maturity of the notes in 2029. The statement by Moody’s is as follows: “The definitive ratings reflect the risks due to defaults on the underlying portfolio of loans given the characteristics and eligibility criteria of the constituent assets, the relevant portfolio tests and covenants as well as the transaction's capital and legal structure. Furthermore, Moody's is of the opinion that the collateral manager, CQS (UK) LLP has sufficient experience and operational capacity and is capable of managing this CLO.”