London, 11 May 2020 – ARC Ratings, S.A. (ARC) has accorded final, long-term public ratings of ‘BBB(sf)’ to the Guaranteed Floating Rate Loan to ELQ Investors VIII Ltd., Guaranteed Floating Rate Notes issued by Mercer Investments (Singapore) Pte. Ltd. Series 2020-A and Series 2020-B and Guaranteed Floating Rate Notes issued by GLQC S.À.R.L. Series 2020-AE, all with stable outlooks. Concurrently, ARC Ratings has affirmed the final, long-term public ratings of ‘BBB(sf)’ accorded to the Guaranteed Floating Rate Notes issued by GLQC S.À.R.L. (series numbers detailed in the table below), GLQL S.À.R.L., ELQ Investors II Ltd., ELQ Investors VI Ltd. and Mercer Investments (Singapore) Pte. Ltd. Series 2019-EA and Series 2019-EB, all with stable outlooks. The ratings address the timely payment of interest and the ultimate repayment of principal, and are in reference to a maximum aggregate funding amount of EUR 11.3bn.