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"markdown": "\n\n# Key Unencumbered Asset Pool Highlights\n\n* $3.2B total unencumbered asset pool made up of high-quality assets\n* 1.7x unencumbered assets-to-unsecured debt\n * Averaging ~2.2x over last 8 quarters, significantly above the covenant requirement\n* ~$980M cushion vs. 1.20x\n* CLOs remain overcollateralized and are comfortably in compliance with existing overcollateralization and interest coverage covenants\n* 54% of secured debt is nonrecourse and non-mark-to-market",
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