OREANDA-NEWS. S&P Global Ratings today assigned its preliminary 'AAA (sf)' rating to Golub Capital Investment Corporation CLO 2016(M) LLC's $220.00 million floating-rate notes (see list).

The note issuance is a collateralized loan obligation transaction backed by middle-market speculative-grade senior secured loans.

The preliminary 'AAA (sf)' rating is based on information as of July 21, 2016. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings.

The preliminary ratings reflect:The transaction will be collateralized by at least 95.0% senior secured loans, with a minimum of 90.0% of the loan issuers required to be based in the U. S. or Canada. A maximum of 10.0% of the loans in the collateral pool can be covenant-lite.3.22% of the underlying collateral obligations have credit ratings assigned by S&P Global Ratings.6.77% of the underlying collateral obligations have recovery ratings issued by S&P Global Ratings.