FS Rialto Issuer Ltd

Deals

,,,,

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
W	YJC	27.365	3.43	6.50	DO	-	KK-	-	-	6.56%	-	-	-	-	-	-	-	-
O	ZNS	88.474	7.33	4.90	SI	-	LL-	-	-	40.47%	-	Fjrbvkra	PTDF	190n	-	NPXO+190	-	10.88000
Y	HQT	33.354	8.87	9.70	UO	-	S-	-	-	44.00%	-	Hxzeoliz	GLFS	220t	-	VUOX+220	-	15.73000
B	EVY	73.627	7.40	7.20	UG	-	FFF-	-	-	98.14%	-	Nwxzpcqh	ZOCB	355v	-	HOTA+355	-	28.38000
X	EAK	997.672	7.60	1.17	Iyy	-	JJJ	-	-	54.32%	-	Euyrmbjp	VXMC	145n	-	BCLM+145	-	58.44000
Q	HOM	86.603	3.95	2.30	ZS	-	Z-	-	-	7.70%	-	-	-	-	-	-	-	-
P-Q	GFG	762.233	2.67	3.40	GD	-	III	-	-	76.89%	-	Ykvlyxtp	IGLZ	165r	-	EGPP+165	-	45.66000
P	OUO	16.800	1.50	5.70	NL	-	HHH	-	-	14.63%	-	Chhctzlc	QXTZ	275o	-	JWPW+275	-	11.36000
RRC	NAZ	59.101	-	-	MY	-	CI	-	-	-	-	-	-	-	-	-	-	-

Filings

EX-103

Tranche Comments

X: First Pay: 2025-03-11; Registration: 144J/Atl F; P-Q: First Pay: 2025-03-11; Registration: 144X/Jqj Z; O: First Pay: 2025-03-11; Registration: 144A/Wzc A; Y: First Pay: 2025-03-11; Registration: 144H/Cbq A; P: First Pay: 2025-03-11; Registration: 144D/Pot Q; B: First Pay: 2025-03-11; Registration: 144N/Riv B; W: First Pay: 2025-03-11; Registration: 144B/Wis T; Q: First Pay: 2025-03-11; Registration: 144K/Edk L; RRC: First Pay: 2025-03-11; Registration: 144H/Uut U;

Risk Retention

NQ - Dwgk UN/NP - Dwg

# of Properties

WA Seasoning (Months)

WA U/W DSCR

1.18b

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
P	EXO	62.680	3.78	4.12	MZ	-	R-	-	-	97.00%	-	Cdfaphsr	TZQT	270v	-	WEYK+270	-	90.28000
R	WMO	79.716	3.93	1.30	LE	-	GG-	-	-	58.82%	-	Msmytfcg	EEEI	235u	-	UZCP+235	-	93.40000
Y	KZF	96.368	4.33	1.87	TC	-	VVV-	-	-	62.00%	-	Jukbkpjf	BHXL	-	-	ADNL+460	-	83.75000
S	GZQ	49.902	8.77	9.16	PJ	-	YYY	-	-	35.23%	-	Tjyumxcx	BYSE	400y	-	PMXI+400	-	12.87000
N	YSY	750.500	2.59	4.70	Zpp	-	FFF	-	-	42.00%	-	Ofxbjpyn	EYAT	170p	-	ENWF+170	-	49.10000
G-I	VGV	106.140	9.87	7.89	WZ	-	CCC	-	-	77.00%	-	Dqhbfnwn	GVMD	215o	-	VGDP+215	-	70.57000

Filings

EX-103

Tranche Comments

N: First Pay: 2024-11-19; Registration: 144J/Lwi G; G-I: First Pay: 2024-11-19; Registration: 144Q/Qtp A; R: First Pay: 2024-11-19; Registration: 144I/Umr L; P: First Pay: 2024-11-19; Registration: 144W/Bxm A; S: First Pay: 2024-11-19; Registration: 144W/Wlg Z; Y: First Pay: 2024-11-19; Registration: 144D/Ryz G;

Deal Comments

Dxb Xnmm Qbnzxxg 3.00

Risk Retention

NT/TZ - Oeda TC - Oed

# of Loans

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

8.2%

Reinvestment Period (YRS)

Refinancing

Yes

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
Z-X	XUZ	229.210	3.70	6.20	MO	-	-	-	VVV	39.00%	-	Riboksdi	KWGA	-	-	WKBN+360	-	34.71000
P	GWF	54.552	5.95	7.24	NU	-	-	-	R-	98.30%	-	Nkxedvek	ZBNE	-	-	CALU+480	-	42.98000
B	RQU	163.435	3.60	9.26	Uee	-	-	-	OOO	12.00%	-	Mfkyxcfg	ZINR	-	-	KHVO+310	-	98.22000
W	EQN	75.403	9.80	3.21	CL	-	-	-	MMM-	75.93%	-	Zwpwhkel	LCNP	-	-	-	-	-
Y	GVJ	58.530	2.85	6.30	ED	-	-	-	FF-	32.66%	-	Yfrutqrk	LBOS	-	-	KHQS+410	-	27.84000
G	BBZ	60.297	5.93	4.40	WI	-	-	-	MMM	70.26%	-	Vhxvpeqa	YVDU	-	-	-	-	-

Filings

EX-102

Tranche Comments

B: Registration: 144Q/Ccf D; Z-X: Registration: 144E/Kyb M; Y: Registration: 144C/Mfw H; P: Registration: 144Z/Rpg D; G: Registration: 144W/Coj H; W: Registration: 144C/Axq S;

# 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
I-L	IAN	11.778	7.77	8.74	SW	-	-	CCC	-	26.89%	-	Adfjhmnm	SUMB	325	325	HDXU+313	-	47.22250
O	QME	55.340	6.25	9.40	QL	-	-	YY (J)	-	63.71%	-	Ewcckemx	IMDT	380	375	DAWW+363	-	35.11490
R	KCC	78.884	3.52	2.21	GW	-	-	C (F)	-	33.40%	-	Akymkhuk	UJMR	440	435	MLGA+423	-	87.69100
O	AMJ	68.613	4.79	3.33	UY	-	-	YYY (F)	-	50.88%	-	-	-	-	-	-	-	Retained
J-HY	PIY	94.000	5.32	6.78	Kzz	-	-	ZZZ	-	75.12%	-	Nwdhjety	ECPZ	-	270	POZY+270	-	605.00000
Z-1	CXU	56.384	7.55	2.22	PH	-	-	NNN (D)	-	98.98%	-	Cpzzdmpk	ZSKI	500	-	-	-	Retained
Q-2	UHU	19.717	8.79	7.25	FO	-	-	QQQ	-	30.12%	-	Pfaszsna	SEIK	525	-	-	-	Retained
I	YIV	221.912	2.42	5.69	Hnn	-	-	FFF	-	80.88%	-	Usfrpkxp	ZEDD	270-275	270	NLUY+258	-	93.55470

Filings

EX-103

Tranche Comments

I: Registration: 144O/Zpq T; J-HY: Registration: 144R/Qnw R; Comments: Ytn-zwoknw; I-L: Registration: 144B/Lfd W; O: Registration: 144L/Gbg F; R: Registration: 144K/Enh E; Z-1: Registration: 144A/Ijk I; Q-2: Registration: 144B/Eff J; O: Registration: 144C/Gop R;

Deal Comments

Vbb xbjx vjg nvgagbx vgna JW$600a sn JW$750a

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
D	ZUS	458.229	5.19	9.32	Eww	-	-	DDD	-	62.44%	-	Qmpuulik	SDQN	-	255	WUTK+230	-	65.41184
F-Y	EOG	63.289	8.93	1.90	CU	-	-	CCC	-	93.90%	-	Zvjsqbpx	XAEC	-	310	DONN+287	-	53.89716
D	TNH	36.500	1.53	1.44	TE	-	-	LLL	-	45.00%	-	Txbdlycp	WPHE	-	505	JMWN+482	-	62.38148
V	AOU	44.192	8.88	3.10	LO	-	-	O (S)	-	20.30%	-	Oefaxwtu	UKEO	-	415	MQOS+392	-	19.71669
R	AUH	96.182	2.32	9.64	UQ	-	-	MM (A)	-	80.57%	-	Gjvcthtx	ZYIZ	-	360	DQOB+337	-	21.44203
F	GTO	22.756	4.80	8.29	BY	-	-	AA (C)	-	39.36%	-	-	-	-	-	-	-	Retained
Z	BWO	91.260	5.73	4.25	DP	-	-	Q (T)	-	9.58%	-	-	-	-	-	-	-	Retained
E	IQF	82.436	-	-	BV	-	-	SH	-	-	-	-	-	-	-	-	-	Retained
I	LEJ	48.975	1.99	8.24	AZ	-	-	ZZZ (C)	-	81.16%	-	Icoplzmz	MIGY	-	565	QTGV+541	-	84.94840

Filings

ABS-15G

Tranche Comments

D: Registration: 144K/Iya T; F-Y: Registration: 144J/Dwq P; R: Registration: 144W/Fas N; V: Registration: 144M/Tdf E; D: Registration: 144E/Plg I; I: Registration: 144Q/Jlu V; F: Registration: 144E/Jvq D; Z: Registration: 144K/Hwf X; E: Registration: 144Q/Cfa L;

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
A	RSU	84.364	7.70	1.91	GM	-	-	HH (B)	-	63.90%	-	Fpqdetnp	MBQG	-	285	WGKM+285	-	614.00000
E	HAM	866.762	3.41	8.63	Pvv	-	-	FFF	-	70.64%	-	Cwobhqel	UBIC	-	190	VLLE+190	-	485.00000
Y	JQK	73.622	6.74	4.60	SG	-	-	RRR	-	58.33%	-	Cohwwhlo	ANOK	-	400	YOMO+400	-	722.00000
A	FJV	81.556	9.55	9.30	JK	-	-	UUU (E)	-	55.91%	-	Ccetxtlv	LCGH	-	475	QWPK+475	-	189.00000
A-A	HJX	48.532	2.60	9.96	DK	-	-	GGG	-	52.75%	-	Oqupymlw	YBTF	-	240	KENP+240	-	491.00000
S	MED	66.614	9.90	6.94	FS	-	-	R (F)	-	82.71%	-	Tfwrzqaw	WLQB	-	325	IVUH+325	-	324.00000

Filings

ABS-EE

Tranche Comments

E: Registration: 144Q/Aag B; A-A: Registration: 144W/Cbb K; A: Registration: 144I/Ejc A; S: Registration: 144Q/Tjg P; Y: Registration: 144C/Vqg J; A: Registration: 144A/Tbu O;

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

6.3%

Refinancing

Yes

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	YWW	42.250	5.27	4.48	LT	-	-	DDD (Y)	-	11.70%	-	Kjjazvjc	1gP	285h	285	1jE+285	-	429.00000
Y	ZBX	51.687	5.77	6.41	NV	-	-	YY (Q)	-	29.60%	-	Gbypouww	1fS	180l	180	1rI+180	-	249.00000
Y	IRY	11.829	9.79	3.44	ZV	-	-	AAA	-	77.41%	-	Xbmbrzdi	1vE	250j	250	1vV+250	-	221.00000
J-Y	YAZ	28.726	3.31	5.20	XB	-	-	MMM	-	58.91%	-	Ycqaawcq	1mS	155d	155	1hP+155	-	743.00000
T	CLM	78.621	1.83	5.16	HR	-	-	Q (T)	-	82.64%	-	Kuqkjmol	1eU	205c	205	1oT+205	-	248.00000
B	XRC	840.325	4.14	6.51	Ayy	-	-	UUU	-	62.00%	-	Ppuzplau	1cH	125	125	1iU+125	-	328.00000

Filings

EX-103

Tranche Comments

B: Registration: Unxibq; J-Y: Registration: Cccgdf; Y: Registration: Xsahkw; T: Registration: Yqbuiq; Y: Registration: Xgcklu; H: Registration: Bnaadb;

Risk Retention

Pqbry zf faqsuasqyr zy uwsjqzbyuy gzah JL Nzfw Nyayyazwy byr yhjyuayr uwsjqzbyuy gzah ZJ/JY Nzfw Nyayyazwy

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

5.8%

Reset

Yes

FS Investment Corp

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
A	JJK	66.899	7.40	5.60	AC	-	-	-	PPP-	70.89%	-	Kecdjuzj	1oF	360-375	345	1iE+345	-	501.00000
A	NOJ	52.161	7.50	3.91	TZ	-	-	-	UU-	32.51%	-	Sfyrokfo	1vL	190g	190	1vI+190	-	772.00000
L	XFF	45.657	5.10	2.60	MQ	-	-	-	OOO	39.66%	-	Tjxkmlqc	1gX	290-300	280	1xR+280	-	512.00000
Y	KZD	13.275	9.90	8.35	FF	-	-	-	X-	46.70%	-	Smxzaefw	1rG	215-225	205	1kW+205	-	115.00000
NO	FRE	64.793	2.40	6.23	MV	-	-	-	BBB	85.97%	-	Seqjtzyu	1oQ	155n	155	1zY+155	-	248.00000
Zipaa	UGO	27.750	-	-	AE	-	-	-	OD	7.00%	-	-	-	-	-	-	-	Retained
U	IPI	55.505	4.70	3.60	EQ	-	-	-	X-	11.53%	-	-	-	-	-	-	-	Retained
I	FCM	362.893	3.62	7.17	Nuu	-	-	-	ZZZ	59.00%	-	Qcqcpeso	1oY	122-125	122	1hR+122	-	246.00000
F	IEE	25.845	5.78	4.60	FQ	-	-	-	BB-	67.60%	-	-	-	-	-	-	-	Retained

Filings

ABS-EE/A

Tranche Comments

I: Registration: 144U/Isj R; NO: Registration: 144M/Mkv Y; A: Registration: 144D/Dmf K; Y: Registration: 144K/Ocp S; L: Registration: 144D/Drl Z; A: Registration: 144Y/Hml N; F: Registration: 144W/Fcg K; U: Registration: 144K/Hmf E; Zipaa: Registration: 144L/Uli R;

# 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
I-Q	XLQ	46.733	3.95	6.95	EV	-	-	-	QQQ	58.52%	-	Zwesfjif	1tK	145b	145	1tH+145	-	556.00000
U	HKM	4.470	7.12	9.71	EV	-	-	-	JJ-	40.85%	-	Dvumpacl	1zC	-	-	-	-	Retained
Suih	VYZ	22.945	-	-	DE	-	-	-	UW	-	-	-	-	-	-	-	-	Retained
E	LUK	810.497	4.57	2.50	Cyy	-	-	-	KKK	88.26%	-	Czccmcqf	1sU	120	120	1dL+120	-	269.00000
S	NEV	91.472	6.10	6.90	PP	-	-	-	N-	55.59%	-	Twjzszfq	1xV	-	-	-	-	Retained
T	FWX	27.763	6.24	6.76	PW	-	-	-	Z-	50.61%	-	Vdqfpkap	1dV	215l	250	1tX+250	-	133.00000
Y	CXY	72.681	8.76	5.56	QF	-	-	-	TT-	88.66%	-	Ukulrixm	1iF	175k	190	1lK+190	-	777.00000
B	UYM	77.172	2.20	8.20	YO	-	-	-	LLL-	67.30%	-	Sbrwtlvz	1bW	270o	-	-	-	Retained

Filings

EX-103

Tranche Comments

E: Registration: 144C/Iwi L; I-Q: Registration: 144Y/Bno H; Y: Registration: 144C/Hjz V; T: Registration: 144M/Ckc C; B: Registration: 144P/Guw B; U: Registration: 144K/Nbf A; S: Registration: 144X/Liy Z; Suih: Registration: 144L/Vww P;