Telos Asset Management LLC Announces Certain Classes of Telos CLO 2006-1 Have Received Ratings Upgrades From Standard & Poor's PR Newswire NEW YORK, Jan. 13, 2014 NEW YORK, Jan. 13, 2014 /PRNewswire/ -- Telos Asset Management LLC ("Telos"), a subsidiary of Tiptree Financial Inc. ("Tiptree"; NASDAQ: "TIPT"), announced that Telos CLO 2006-1, Ltd. ("Telos 1"), a collateralized loan obligation vehicle ("CLO") for which it acts as collateral servicer, has recently received ratings upgrades from Standard & Poor's on certain classes of its notes. In December 2013, Standard & Poor's had announced that it had raised the ratings on the Class A-2, B, C, D and E notes from Telos 1 and removed them from CreditWatch with positive implications as follows: Telos CLO 2006-1 Ltd. Class To From A-2 AAA AA+ / Watch Pos B AA+ A+ / Watch Pos C AA- A- / Watch Pos D BBB+ BBB- / Watch Pos E BB BB- / Watch Pos The rating agency had also affirmed its 'AAA' rating on the Class A-1D, A-1R and A-1T notes from Telos 1. Standard & Poor's rationale for the stated upgrades included the continued pay downs to the Class A-1D, A-1R and A-1T notes as well as improvements in overcollateralization and portfolio quality. About Telos Asset Management LLC Telos is an asset management company focused on investing in corporate credit either through managed accounts or structured investment vehicles such as CLOs. As of September 30, 2013, Telos has approximately $1.5 billion of assets under management, which consists of four matched funded CLOs and a CLO warehouse. About Tiptree Financial Inc. Tiptree is a diversified holding company which conducts its operations through its operating subsidiary, Tiptree Operating Company, LLC. Tiptree operates in four segments: insurance and insurance services, specialty finance (including corporate, consumer and tax-exempt credit), asset management and real estate. Cautionary Statement Regarding Forward-Looking Statements This release contains "forward-looking statements" which involve risks, uncertainties and contingencies, many of which are beyond Tiptree's control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "estimate," "expect," "plan," "target," and similar expressions are generally intended to identify forward-looking statements. Such forward-looking statements include, but are not limited to, statements about Tiptree's plans, objectives, expectations and intentions. There are various factors that could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond Tiptree's control, including economic, business, funding market, competitive and/or regulatory factors. Factors such as these are set forth under the captions "Forward-Looking Statements" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (or similar captions) in Tiptree's most recent Annual Report on Form 10-K and its quarterly reports on Form 10-Q, and as described in Tiptree's other filings with the Securities and Exchange Commission ("SEC"). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of this release. We cannot guarantee the accuracy of any such forward-looking statements contained in this release, and Tiptree is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. SOURCE Tiptree Financial Inc.; Telos Asset Management LLC Contact: TELOS ASSET MANAGEMENT LLC, John J. McCormick III, President & Chief Investment Officer, Phone: Tel: 212.758.8878, Email: firstname.lastname@example.org
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Telos Asset Management LLC Announces Certain Classes of Telos CLO 2006-1 Have Received Ratings Upgrades From Standard & Poor's
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