Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / rating-agency-engagement-letter-ridgeline.docx
rating-agency-engagement-letter-ridgeline.docx
Parties
Ridgeline Credit Ratings LLC
Driftwood Credit Management LLC
Driftwood Absolute Return Fund Ltd
Brindoval Analytical Services Inc
Harkness LLP
Meridian Atlantic Securities LLC
Northbridge Capital Markets Inc
Cooperation Driftwood Credit Management LLC
Dates
June 23, 2023
June 19, 2023
August 22, 2023
September 12, 2025
September 12, 2028
October 15, 2036
December 12, 2023
January 15, 2024
September 8, 2023
August 4, 2023
Amounts
$400,000,000
$6.8
$364,000,000
$36,000,000
$250,000
$1,000
$250,000,000
$30,000,000
$20,000,000
$40,000,000
Obligations
Collateral Quality Tests and Eligibility Criteria The Indenture will contain a series of eligibility criteria and collateral quality tests that the collateral pool must satisfy on the Effective Date and that must be maintained (or, in some cases, tested on each reinvestment date) during the Reinvestment Period
The following is a summary of the key collateral quality tests and eligibility criteria that are relevant to Ridgeline's rating methodology and analysis: (a) Minimum Weighted Average Spread: The weighted average spread of the collateral portfolio shall not be less than 350 basis points
(b) Maximum Weighted Average Life: The weighted average life of the collateral portfolio shall not exceed 7
(c) Minimum Diversity Score: The diversity score of the collateral portfolio, as calculated in accordance with the methodology specified in the Indenture, shall not be less than 60
CCC+ or below) shall not exceed 7
(e) Maximum Second-Lien Bucket: The aggregate principal balance of second-lien collateral obligations shall not exceed 5