Fitch: AMMC CLO XIV, Limited's Ratings Unaffected by Amendment to Initial Required Equity Investment

According to Fitch Ratings, the rating of the class A delayed draw notes of AMMC CLO XIV, Limited will not be affected by the decrease in the initial required equity investment to $15 million from $30 million. Fitch has reviewed the amendment documentation and the updated indicative portfolio and determined that the initial higher concentration does not materially impact the rating factors considered in its initial analysis.

AMMC CLO XIV, Limited is a term facility that closed in December 2013 to fund purchases of broadly syndicated loans. Key rating drivers and rating sensitivities are outlined in Fitch's original press release dated Dec. 18, 2013.

Fitch currently rates the class A notes as follows:

--$240,000,000 class A delayed draw notes 'Asf'; Outlook Stable.

Fitch is not a party to the transaction and therefore does not provide consent or approval, as that remains the sole preserve of the transaction parties.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Fitch Rates AMMC CLO XIV, Limited' (Dec. 18, 2013);

--'AMMC CLO XIV, Limited -- Appendix' (Dec. 18, 2013).

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