Nationally recognized statistical rating organization

KBRA Assigns Preliminary Ratings to NMEF Funding 2021-A

Thursday, March 4, 2021 - 7:40pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by NMEF Funding 2021-A, LLC (NMEF 2021-A).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by NMEF Funding 2021-A, LLC (NMEF 2021-A).
  • NMEF 2021-A represents North Mill Equipment Finance LLCs (North Mill or the Company) fourth equipment ABS.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to Loanpal Solar Loan 2021-2 Ltd. and Loanpal Solar Loan 2021-2 LLC

Thursday, March 4, 2021 - 7:28pm

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.

Key Points: 
  • Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to GLS Auto Receivables Issuer Trust 2021-1

Wednesday, March 3, 2021 - 3:02pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by GLS Auto Receivables Issuer Trust 2021-1 (GCAR 2021-1), an asset-backed securitization collateralized by a pool of auto loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by GLS Auto Receivables Issuer Trust 2021-1 (GCAR 2021-1), an asset-backed securitization collateralized by a pool of auto loans.
  • GCAR 2021-1 has initial credit enhancement levels ranging from 54.20% for the Class A notes to 4.80% for the Class E notes.
  • KBRA also conducted an operational assessment on the originator and servicer, as well as a review of the transactions legal structure and transaction documents.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

KBRA Assigns Preliminary Rating to Servpro Master Issuer, LLC Series 2021-1 Senior Secured Notes

Monday, March 1, 2021 - 7:57pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to a note class of Servpro Master Issuer, LLC Series 2021-1, a whole business securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to a note class of Servpro Master Issuer, LLC Series 2021-1, a whole business securitization.
  • This transaction is structured as a whole business securitization in which Servpro Industries, LLC and certain of its affiliates have contributed substantially all of their revenue-generating assets to Servpro Master Issuer, LLC (the Issuer).
  • In conjunction with the issuance of the Series 2021-1 Notes, KBRA anticipates affirming the ratings on the Issuers outstanding Series 2019-1 Class A-1 Notes and Series 2019-1 Class A-2 Notes.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

KBRA Assigns Ratings to Flagship Citadel Multi-Strategy Hedge Funds

Monday, March 1, 2021 - 6:44pm

This credit rating is endorsed by Kroll Bond Rating Agency Europe Limited for use in the European Union and by Kroll Bond Rating Agency UK Limited for use in the UK.

Key Points: 
  • This credit rating is endorsed by Kroll Bond Rating Agency Europe Limited for use in the European Union and by Kroll Bond Rating Agency UK Limited for use in the UK.
  • Information on a credit ratings endorsement status is available on its rating page at KBRA.com.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to PFP 2021-7

Monday, March 1, 2021 - 3:44pm

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.

Key Points: 
  • Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to GCAT 2021-NQM1 Trust (GCAT 2021-NQM1)

Friday, February 26, 2021 - 7:11pm

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.

Key Points: 
  • Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to Business Jet Securities 2021-1, LLC, Secured Notes, Series 2021-1

Tuesday, February 23, 2021 - 7:05pm

Further disclosures relating to this rating action are available in the U.S. Information Disclosure Form referenced above.

Key Points: 
  • Further disclosures relating to this rating action are available in the U.S. Information Disclosure Form referenced above.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to Taurus 2021-2 SP DAC

Tuesday, February 23, 2021 - 6:59pm

Kroll Bond Rating Agency UK Limited (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of Taurus 2021-2 SP DAC, a CMBS single-borrower securitisation.

Key Points: 
  • Kroll Bond Rating Agency UK Limited (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of Taurus 2021-2 SP DAC, a CMBS single-borrower securitisation.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.
  • Kroll Bond Rating Agency UK is located at Augustine House, Austin Friars, London, EC2N 2HA, United Kingdom.

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: January 2021

Tuesday, February 23, 2021 - 6:59pm

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.
  • In this report, we provide an update on U.S. CLO sector exposure and overall industry credit quality, based on reported data from March 2020 through January 2021 trustee reports for a representative sample of transactions.
  • We also include the Structured Credit Publication Index, which contains links to recent KBRA reports within the Structured Credit sector.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: December 2020
    KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.