2201500 - Error "Root exception" "Cannot authenticate the user" for basic agent authentication in Solution Manager 7.1

When attempting to connect a diagnostic agent via basic authentication in Solution Manager 7.1, the following error is observed:
"Registration Error

J2EE connection user : SMD_AGT
Authentication method: basic

Exception: com.sap.engine.services.jndi.persistent.exceptions.NoPermissionException: Exception during getInitialContext operation.
Wrong security principle/credentials. [Root exception is com.sap.engine.services.security.exceptions.BaseLoginException: Cannot authenticate the user.]"

SAP Solution Manager 7.1

SOLMAN, Outdated, Obsolete, SMDA, Agent Credentials, Principle/Credentials, Non-Authenticated Agent, Basic Authentication, SMD_ADMIN, SMD_AGT, Cannot Authenticate the User, Diagnotic Agent, DA , KBA , SV-SMG-INS-AGT , Installation of Solution Manager Diagnostics Agent , SV-SMG-INS-DIA , Configuration of Root Cause Analysis related infrastructure , Problem