DBRS Morningstar Confirms Ratings on the Class A-R Loans and Class A-T Loans Issued by Cerberus 2112 Levered LLC, Discontinues EU and UK Endorsements.

ENPNewswire-July 21, 2021--DBRS Morningstar Confirms Ratings on the Class A-R Loans and Class A-T Loans Issued by Cerberus 2112 Levered LLC, Discontinues EU and UK Endorsements

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Release date- 20072021 - DBRS, Inc. (DBRS Morningstar) confirmed its ratings of AA (sf) on the Class A-R Loans and the Class A-T Loans (together, the Loans) issued by Cerberus 2112 Levered LLC, up to the total commitment amount of $400,000,000 permitted under the Loans, pursuant to the Credit Agreement.

Additionally, as of July 20, 2021, DBRS Ratings Limited and DBRS Ratings GmbH will discontinue the endorsement of the Loans ratings issued by DBRS, Inc. for use in the United Kingdom and the European Union, assigned pursuant to DBRS Morningstar's 'Rating CLOs and CDOs of Large Corporate Credit' methodology (February 8, 2021).

The ratings on the Loans of Cerberus 2112 Levered LLC had been endorsed by DBRS Ratings Limited and DBRS Ratings GmbH based on their potential sale in the United Kingdom and/or the European Union but not at the specific request of any issuers or investors.

The rating confirmations are being provided pursuant to the execution of Amendment No. 2 to the Credit Agreement, which modifies certain terms of the Credit Agreement referred to above, including the increase of the total commitments on the Loans to $400,000,000 from $270,000,000, among other changes. The Loans were issued pursuant to the Credit Agreement, dated as of October 8, 2020 (as amended by Amendment No. 1 to the Credit Agreement dated as of December 23, 2020, and Amendment No. 2 to Credit Agreement dated as of July 20, 2021), among Cerberus 2112 Levered LLC, as the Borrower; Cerberus 2112 Credit Holdings LLC, as the Servicer; the Lenders referred to therein; Natixis, New York Branch, as the Administrative Agent; and U.S. Bank National Association (rated AA (high) with a Stable trend by DBRS Morningstar), as the Collateral Agent and Custodian.

The ratings on the Loans address the timely payment of interest (excluding any Excess Interest Amounts and any additional interest payable pursuant to Section 2.5(ii), as defined in the Credit Agreement referred to above) and the ultimate payment of principal on or before the Final Maturity Date (as defined in the Credit Agreement referred to above).

The Loans are collateralized primarily by a portfolio of U.S. middle-market corporate loans. The Servicer is Cerberus 2112 Credit Holdings LLC, an...

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