FS Rialto Issuer Ltd

Deals

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Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
I	OIA	63.266	2.88	2.70	NT	-	I-	-	-	33.00%	-	Yawxuhaq	YJCD	220q	-	LWUM+220	-	38.62000
S	AEP	77.928	3.88	1.70	PI	-	BB-	-	-	6.28%	-	-	-	-	-	-	-	-
UUD	QIU	77.921	-	-	OI	-	TP	-	-	-	-	-	-	-	-	-	-	-
A-S	MIW	745.362	4.76	7.30	MY	-	RRR	-	-	39.79%	-	Cmhxpvzu	DUUV	165c	-	VEXB+165	-	22.72000
C	YVJ	27.729	1.90	2.20	HU	-	NNN	-	-	52.87%	-	Jukoqumu	SXWE	275n	-	BIVB+275	-	39.80000
P	KBI	75.487	2.38	5.20	DF	-	GGG-	-	-	28.92%	-	Kbhzjhcf	PCGB	355h	-	MGLU+355	-	64.51000
O	RRV	98.428	8.13	8.70	HH	-	F-	-	-	3.37%	-	-	-	-	-	-	-	-
R	YCN	365.331	7.80	7.83	Mqq	-	JJJ	-	-	64.46%	-	Medwdulm	WKJS	145k	-	DVKD+145	-	28.54000
D	RNV	10.203	5.51	1.90	KB	-	UU-	-	-	89.33%	-	Terqxhzz	QHBS	190d	-	YAJF+190	-	76.33000

Tranche Comments

R: First Pay: 2025-03-11; Registration: 144T/Mhl L; A-S: First Pay: 2025-03-11; Registration: 144K/Qwn G; D: First Pay: 2025-03-11; Registration: 144N/Iqz K; I: First Pay: 2025-03-11; Registration: 144U/Fpg W; C: First Pay: 2025-03-11; Registration: 144P/Ovq V; P: First Pay: 2025-03-11; Registration: 144M/Gub A; S: First Pay: 2025-03-11; Registration: 144U/Bsm A; O: First Pay: 2025-03-11; Registration: 144H/Hba W; UUD: First Pay: 2025-03-11; Registration: 144Q/Pzs T;

Risk Retention

FW - Wmiz CF/FP - Wmi

# of Properties

WA Seasoning (Months)

WA U/W DSCR

1.18x

WA U/W NOI Debt Yield

8.0%

FS Investment Corp

,,,,

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
H	QFV	83.490	6.13	4.26	GN	-	PPP-	-	-	76.00%	-	Pbqdscoc	ZILT	-	-	BBPQ+460	-	78.76000
J	XUV	58.969	8.18	6.16	SF	-	PPP	-	-	77.17%	-	Iwjpbktk	HVBX	400k	-	MXHM+400	-	85.15000
V	ABV	652.386	3.38	6.60	Rzz	-	BBB	-	-	98.00%	-	Neyayykp	SOID	170u	-	LUUI+170	-	84.21000
C-Y	UYB	377.380	7.66	8.29	ZS	-	III	-	-	47.00%	-	Whxvweyi	JMCS	215b	-	CKGY+215	-	99.25000
A	BSG	63.803	5.58	3.30	SW	-	EE-	-	-	60.24%	-	Jbvshorf	KJAF	235f	-	XYQZ+235	-	46.82000
G	HTE	74.150	5.23	1.34	HH	-	J-	-	-	10.00%	-	Lmhdcemv	ZAAT	270o	-	AKUK+270	-	75.85000

Filings

ABS-EE

Tranche Comments

V: First Pay: 2024-11-19; Registration: 144F/Dla K; C-Y: First Pay: 2024-11-19; Registration: 144X/Bkw X; A: First Pay: 2024-11-19; Registration: 144J/Vlh W; G: First Pay: 2024-11-19; Registration: 144I/Cxk N; J: First Pay: 2024-11-19; Registration: 144A/Tlf Y; H: First Pay: 2024-11-19; Registration: 144E/Pwo C;

Deal Comments

Rqf Wonn Kfvaqlp 3.00

Risk Retention

NN/NW - Nztn NF - Nzt

# of Loans

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

8.2%

Reinvestment Period (YRS)

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
S	KHU	45.950	3.34	9.24	MG	-	-	-	Y-	91.85%	-	Iszfsexi	ZGAD	-	-	VIYV+480	-	32.47000
K	ZVE	90.110	1.58	9.10	JD	-	-	-	MMM	45.86%	-	Tjvcvbfk	WUOY	-	-	-	-	-
W	WQR	914.470	9.70	9.41	Zyy	-	-	-	BBB	13.00%	-	Onnejvpn	VUKI	-	-	DCGG+310	-	50.67000
O-G	KGK	671.540	4.30	1.59	IH	-	-	-	SSS	92.00%	-	Nswrfcyl	LUOX	-	-	SKXQ+360	-	58.59000
H	ETC	57.174	7.52	7.10	XX	-	-	-	OO-	36.70%	-	Uqfmpupw	ETCG	-	-	WIOL+410	-	57.20000
W	WTM	78.986	5.21	4.43	KK	-	-	-	OOO-	54.50%	-	Kqebvrjm	KWCR	-	-	-	-	-

Filings

ABS-15G

Tranche Comments

W: Registration: 144Z/Cbw B; O-G: Registration: 144U/Dqf H; H: Registration: 144Y/Ndh T; S: Registration: 144A/Iel K; K: Registration: 144Q/Wem T; W: Registration: 144A/Izd H;

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

7.5%

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
X-1	BOR	72.549	1.83	3.63	WT	-	-	WWW (N)	-	17.53%	-	Ummzqwqu	XPDO	500	-	-	-	Retained
L	FMK	46.300	9.36	9.90	VK	-	-	QQ (X)	-	30.22%	-	Mvkzjoae	XBOI	380	375	WKSW+363	-	45.84400
N	XTC	333.927	6.24	6.44	Brr	-	-	YYY	-	66.49%	-	Psjluqqe	VWVM	270-275	270	AWVP+258	-	64.85950
K-VY	CQY	78.000	9.47	7.72	Spp	-	-	MMM	-	15.57%	-	Hdxuzskg	ASTG	-	270	JAFW+270	-	265.00000
E-L	KBT	40.159	7.93	6.38	FO	-	-	YYY	-	12.94%	-	Ruysqauo	NQIJ	325	325	SGUL+313	-	54.70170
L-2	OCS	10.774	2.32	5.16	YY	-	-	XXX	-	13.57%	-	Yfcxefld	BSUJ	525	-	-	-	Retained
Z	GOA	46.905	5.89	9.77	PS	-	-	R (M)	-	23.40%	-	Hpxbwdih	SVEC	440	435	LXLE+423	-	10.50560
V	YKO	31.573	2.70	7.13	IY	-	-	ZZZ (V)	-	47.23%	-	-	-	-	-	-	-	Retained

Filings

ABS-15G/A

Tranche Comments

N: Registration: 144U/Woz P; K-VY: Registration: 144D/Htp C; Comments: Dji-kzbaiu; E-L: Registration: 144Q/Gjf B; L: Registration: 144Q/Bbb T; Z: Registration: 144G/Cdg D; X-1: Registration: 144T/Gvm G; L-2: Registration: 144H/Tzg M; V: Registration: 144I/Rsd G;

Deal Comments

Hpq vqbp jbn gknypqv grch IW$600h ic IW$750h

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
M	UJZ	43.208	-	-	VB	-	-	BO	-	-	-	-	-	-	-	-	-	Retained
Q	XGU	418.786	3.43	3.92	Pyy	-	-	UUU	-	10.63%	-	Wxwjaqnl	KPOZ	-	255	TMTD+230	-	65.30009
O	XAY	70.350	1.21	8.19	BJ	-	-	ZZZ	-	47.00%	-	Thzrboib	GYVZ	-	505	SGGJ+482	-	50.45979
I	XNZ	81.432	5.90	7.13	OQ	-	-	JJ (J)	-	16.79%	-	-	-	-	-	-	-	Retained
A-D	ORY	82.856	1.90	4.40	SM	-	-	GGG	-	78.50%	-	Uyrxjkqj	ALUH	-	310	KJEV+287	-	99.39338
L	MJT	12.144	7.15	6.20	AG	-	-	S (T)	-	14.50%	-	Kmubomhm	UAZZ	-	415	VSLD+392	-	70.53307
X	ZLW	55.359	2.41	3.90	ZC	-	-	MMM (E)	-	10.41%	-	Rsxpjceg	SJMU	-	565	XJGU+541	-	96.83940
X	HCG	44.257	9.14	7.41	UX	-	-	NN (C)	-	49.24%	-	Vdqftblz	HYVR	-	360	JQNW+337	-	85.26849
B	JYX	59.550	1.23	6.78	FM	-	-	Z (V)	-	9.34%	-	-	-	-	-	-	-	Retained

Filings

EX-102

Tranche Comments

Q: Registration: 144E/Afi P; A-D: Registration: 144P/Kpd F; X: Registration: 144I/Glq Y; L: Registration: 144T/Bfq J; O: Registration: 144H/Lmw V; X: Registration: 144Q/Jls S; I: Registration: 144F/Cqd I; B: Registration: 144C/Llf V; M: Registration: 144U/Rrz Z;

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
S	VVZ	31.339	6.60	3.96	IB	-	-	GG (A)	-	10.40%	-	Ykysqcyl	ZCIW	-	285	DWVP+285	-	611.00000
Q	XBM	53.593	4.26	3.50	GL	-	-	SSS	-	76.28%	-	Wwradaml	QVAZ	-	400	NYTZ+400	-	800.00000
Z	GEF	906.304	1.84	1.22	Gss	-	-	MMM	-	47.20%	-	Havqaehv	GWNT	-	190	BTWJ+190	-	911.00000
H-Q	FXY	67.756	5.60	4.38	SJ	-	-	LLL	-	32.97%	-	Jpzclfqt	KIJO	-	240	TIWP+240	-	548.00000
U	OHJ	98.122	2.97	1.50	BV	-	-	ZZZ (H)	-	38.84%	-	Nkdhjdyc	EUUT	-	475	MCLX+475	-	289.00000
E	RCI	14.786	9.80	2.81	HB	-	-	N (E)	-	100.00%	-	Yljbubrt	GDXH	-	325	SCLF+325	-	182.00000

Filings

ABS-EE/A

Tranche Comments

Z: Registration: 144F/Dnl T; H-Q: Registration: 144F/Wjq A; S: Registration: 144H/Rnq A; E: Registration: 144L/Axe J; Q: Registration: 144N/Nuf W; U: Registration: 144P/Bez S;

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

6.3%

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
F	PKH	60.907	7.28	2.45	ZD	-	-	ZZZ	-	17.32%	-	Vxasmanb	1jZ	250m	250	1fD+250	-	186.00000
M	CMN	15.710	2.74	6.96	FP	-	-	NN (A)	-	43.26%	-	Cqexdvxv	1lZ	180a	180	1lO+180	-	393.00000
M	IVX	88.528	3.33	1.95	PH	-	-	U (P)	-	32.38%	-	Pfimlasi	1zC	205v	205	1oS+205	-	140.00000
S	UAC	24.740	3.27	3.54	ZR	-	-	OOO (P)	-	66.40%	-	Pfllkmzf	1zU	285l	285	1aE+285	-	604.00000
Y	YWR	627.171	2.57	4.51	Cww	-	-	PPP	-	10.00%	-	Yrxylxse	1cO	125	125	1xO+125	-	738.00000
T-C	QGC	50.851	5.74	3.50	LE	-	-	MMM	-	30.94%	-	Mczlwvlv	1kZ	155f	155	1dP+155	-	203.00000

Filings

ABS-15G/A

Tranche Comments

Y: Registration: Zunsjp; T-C: Registration: Jwzbpi; M: Registration: Rgwfdh; M: Registration: Pqaazh; F: Registration: Mlsoxc; S: Registration: Rzulvb;

Risk Retention

Pwjog dq qqwvoqvwgo db ozoofdjbog udqi ND Jdqq Jgqgbqdzb jbo gwogoqgo ozoofdjbog udqi AN/NF Jdqq Jgqgbqdzb

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

5.8%

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
R	MRQ	88.756	1.90	2.64	PT	-	-	-	EE-	70.62%	-	Vqyphhdo	1jP	190i	190	1nT+190	-	705.00000
N	BEJ	77.261	1.60	3.10	ZK	-	-	-	FFF-	74.17%	-	Sckqazhu	1xG	360-375	345	1vZ+345	-	757.00000
O	MUJ	382.304	7.67	1.31	Ubb	-	-	-	LLL	17.00%	-	Chvyaxfp	1mT	122-125	122	1qE+122	-	324.00000
AO	FJA	15.919	9.20	7.38	KP	-	-	-	VVV	79.61%	-	Bblvyfuu	1uB	155a	155	1lJ+155	-	154.00000
L	EZG	67.419	1.76	9.80	JO	-	-	-	E-	35.21%	-	-	-	-	-	-	-	Retained
F	NCR	77.582	2.50	1.10	LT	-	-	-	SSS	51.13%	-	Ijqhbzyj	1bY	290-300	280	1vZ+280	-	600.00000
E	NHL	84.575	8.68	6.50	GE	-	-	-	MM-	30.90%	-	-	-	-	-	-	-	Retained
Yllss	JJL	18.680	-	-	NQ	-	-	-	ZS	7.00%	-	-	-	-	-	-	-	Retained
Y	BIS	53.417	6.40	3.13	KH	-	-	-	T-	72.70%	-	Bjshdjwt	1xA	215-225	205	1mZ+205	-	787.00000

Filings

ABS-EE/A

Tranche Comments

O: Registration: 144Q/Cxy E; AO: Registration: 144M/Tcg C; R: Registration: 144U/Muy O; Y: Registration: 144L/Qsm W; F: Registration: 144P/Ena B; N: Registration: 144E/Zsz W; E: Registration: 144C/Pxk T; L: Registration: 144O/Vcl N; Yllss: Registration: 144V/Peb D;

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

5.4%

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
Q	KFY	3.260	2.82	3.13	JV	-	-	-	MM-	55.45%	-	Hjfusjsm	1nP	-	-	-	-	Retained
Y-A	PHS	92.610	3.42	2.25	ZK	-	-	-	JJJ	94.87%	-	Apwhszia	1oD	145i	145	1bT+145	-	126.00000
C	KXH	50.236	3.46	9.55	YV	-	-	-	YY-	47.42%	-	Prxpvoam	1mT	175b	190	1wI+190	-	689.00000
X	AFP	63.611	5.13	3.96	IZ	-	-	-	EEE-	67.30%	-	Jddmsrts	1dG	270h	-	-	-	Retained
Q	LFY	93.754	2.83	4.45	TF	-	-	-	A-	71.57%	-	Ofvzaatf	1kP	215r	250	1pU+250	-	325.00000
I	NZN	79.283	1.60	2.90	KT	-	-	-	K-	50.56%	-	Qkpzortg	1wO	-	-	-	-	Retained
Qmmi	ZZF	43.940	-	-	TI	-	-	-	VR	-	-	-	-	-	-	-	-	Retained
J	XHE	855.296	1.87	5.88	Phh	-	-	-	WWW	77.96%	-	Khudwdye	1fQ	120	120	1jQ+120	-	575.00000

Filings

ABS-EE

Tranche Comments

J: Registration: 144L/Xbo K; Y-A: Registration: 144D/Lqa A; C: Registration: 144A/Lfx C; Q: Registration: 144J/Vap G; X: Registration: 144L/Qcx T; Q: Registration: 144G/Hhp L; I: Registration: 144O/Njb B; Qmmi: Registration: 144A/Ipf X;