Credit enhancement

Building Hope Awarded $33 Million in Federal Grant Funding to Benefit Charter School Development

Retrieved on: 
Tuesday, March 14, 2023
Commercial Building & Real Estate, Construction & Property, Finance, Professional Services, Philanthropy, Primary, Secondary, Education, Foundation, Building Hope, Credit enhancement, School, Credit, Building, U.S. Department of Agriculture Cotton Annex, Investment, Student, History, Real estate, D.C

Building Hope , a non-profit foundation dedicated to creating high-quality K-12 charter school opportunities for students through its expertise in real estate, finance and operational services, today announced that Building Hope Finance has been awarded a grant of $33 million through the U.S. Department of Education’s Credit Enhancement for Charter School Facilities Program.

Key Points: 
  • Building Hope , a non-profit foundation dedicated to creating high-quality K-12 charter school opportunities for students through its expertise in real estate, finance and operational services, today announced that Building Hope Finance has been awarded a grant of $33 million through the U.S. Department of Education’s Credit Enhancement for Charter School Facilities Program.
  • The funding will allow Building Hope to help charter schools access funding necessary to acquire, construct, and renovate facilities at a reasonable cost.
  • The grant capital helps charter schools with projects necessary to commence or continue charter school operations by:
    Acquiring or leasing property for charter school operations.
  • As a grant recipient, Building Hope will use the funding to guarantee leases and loans to charter schools and to facilitate financing to charter schools located in Florida, Idaho, Nevada, Texas, and Washington, D.C.
    “The proof of the power of this kind of federal investment in charter schools is the work that Building Hope does every day,” said Building Hope Vice President of Finance Lance Helming.

Nonprofit Finance Fund Awarded $12 Million Charter School Credit Enhancement by Department of Education

Retrieved on: 
Tuesday, February 7, 2023
Credit, United States Department of Education, Education, Credit enhancement, NFF, Real estate

New York, NY, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Nonprofit Finance Fund (NFF) has been awarded a $12 million grant through the United States Department of Education's Credit Enhancement for Charter School Facilities Program to expand lending to community-centered charter schools.

Key Points: 
  • New York, NY, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Nonprofit Finance Fund (NFF) has been awarded a $12 million grant through the United States Department of Education's Credit Enhancement for Charter School Facilities Program to expand lending to community-centered charter schools.
  • "For decades, public charter schools have been a fundamental part of the United States education system – especially for young people of color,” says NFF CEO Aisha Benson.
  • “This credit enhancement empowers NFF to offer flexible, affordable financing to the public charter schools that help our youth thrive.”
    The Credit Enhancement program helps charter schools acquire, construct, and renovate new or existing facilities by creating easier access to the capital they need to succeed.
  • This is the second time that NFF has been awarded funding to support charter schools through the Credit Enhancement program since 2018.

MyTrustMe.com LLC Is Pleased to Announce the Addition of Ronald S. Rumack as a Director - Sales & Business Development

Retrieved on: 
Monday, January 31, 2022
Legal, Technology, Construction & Property, Finance, Urban Planning, Banking, Other Technology, Professional Services, Software, Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services Ltd, CEO, Capital market, University, Wisconsin Manufacturers & Commerce, LLC, Corporation, Pi bond, Master of Business Administration, Credit enhancement, Executive, Business administration, Business development, Special adviser (UK), Graduate certificate, Solution, Management, Security (finance)

MyTrustMe.com is proud to announce the appointment of Ronald S. Rumack as Director, Sales & Business Development.

Key Points: 
  • MyTrustMe.com is proud to announce the appointment of Ronald S. Rumack as Director, Sales & Business Development.
  • He will be based out of Milwaukee, WI, and will report directly to Roni Gannon, CEO of MyTrustMe.com LLC.
  • With the addition of Ronald to our team, we are further expanding our credibility and expertise to better serve our customers and our partners.
  • MyTrustMe.com LLC operates the worlds only online platform for requesting and securing Corporate Trustee and other related services for Capital Markets issuers.

KBRA Assigns Preliminary Ratings to U.S. Auto Funding Trust 2021-1

Retrieved on: 
Thursday, July 29, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Structured finance, United States housing bubble, Credit, Credit enhancement, Fixed income, Securitization, Credit rating agency

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by U.S. Auto Funding Trust 2021-1 (USAUT 2021-1), a subprime auto loan ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by U.S. Auto Funding Trust 2021-1 (USAUT 2021-1), a subprime auto loan ABS transaction.
  • Credit enhancement consists of excess spread, overcollateralization, subordination (except for the Class E Notes) and a reserve account funded at closing.
  • USAUT 2021-1 represents the first ABS securitization in 2021 for U.S. Auto Finance, Inc. (U.S. Auto or the Company) and their third rated term ABS securitization since inception.
  • KBRA considered its operational review of U.S. Auto, as well as periodic update calls with the Company.

Freddie Mac Prices $357 Million Sustainability Bonds Offering of Guaranteed Tax-Exempt ML Certificates

Retrieved on: 
Friday, July 23, 2021
Cryptography, Finance, Financial markets, Structured finance, Mortgage industry of the United States, Key management, Public key infrastructure, Public-key cryptography, Public key certificate, Freddie Mac, Credit enhancement, Mortgage-backed security

The Class A-US Certificates are senior principal and interest certificates, which are rated as AA+(sf) by S&P Global Ratings and the Class X-US Certificates are interest-only certificates.

Key Points: 
  • The Class A-US Certificates are senior principal and interest certificates, which are rated as AA+(sf) by S&P Global Ratings and the Class X-US Certificates are interest-only certificates.
  • The Class A-US and Class X-US Certificates are guaranteed by Freddie Mac.
  • The ML-11 Trust will also issue Class B-US Certificates, which will not be guaranteed by Freddie Mac.
  • ML Certificates typically feature a wide range of investor options with stable cash flows and structured credit enhancement.

KBRA Assigns Preliminary Ratings to VCP RRL ABS I, Ltd.

Retrieved on: 
Friday, July 23, 2021
Consulting, Banking, Professional services, Finance, Finance, Money, Economy, Credit risk, Structured finance, United States housing bubble, Bond market, Credit, Credit enhancement, Securitization, Credit rating agency, Bond credit rating

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by VCP RRL ABS I, Ltd. (VCP RRL I), a securitization backed by a portfolio of recurring revenue and middle market corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by VCP RRL ABS I, Ltd. (VCP RRL I), a securitization backed by a portfolio of recurring revenue and middle market corporate loans.
  • The ratings reflect initial credit enhancement levels, excess spread, and structural features.
  • The portfolio presented to KBRA contains exposures to 43 obligors with 65.3% of the par exposure to the RRLs.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

KBRA Assigns Preliminary Ratings to Tricolor Auto Securitization Trust 2021-1

Retrieved on: 
Tuesday, July 20, 2021
Professional services, Finance, Finance, Money, Structured finance, Fixed-income securities, United States housing bubble, Tranche, Credit enhancement, Securitization, Credit rating agency, MV Tricolor

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six classes of notes issued by Tricolor Auto Securitization Trust 2021-1 (“TAST 2021-1”), a subprime auto loan ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six classes of notes issued by Tricolor Auto Securitization Trust 2021-1 (TAST 2021-1), a subprime auto loan ABS transaction.
  • The preliminary ratings reflect initial credit enhancement levels ranging from 50.00% for the Class A notes to 11.00% for the Class F notes.
  • This transaction represents the first rated ABS securitization in 2021 for the Tricolor Auto Acceptance, LLC (Tricolor or the Company).
  • Founded in 2007, Tricolor is an auto lender and buy here-pay here" auto finance company that focuses on the underserved Hispanic market.

KBRA Assigns Preliminary Rating to TVEST 2021A, LLC Note

Retrieved on: 
Tuesday, July 20, 2021
Banking, Professional services, Finance, Finance, Money, Structured finance, Asset-backed security, Financial law, Receivables, Credit enhancement

Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to one class of notes from TVEST 2021A, LLC, an asset-backed securities (ABS) transaction collateralized by litigation finance and medical receivables serviced by Experity Ventures LLC (Experity).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to one class of notes from TVEST 2021A, LLC, an asset-backed securities (ABS) transaction collateralized by litigation finance and medical receivables serviced by Experity Ventures LLC (Experity).
  • TVEST 2021A represents Experitys second ABS transaction collateralized by litigation finance and medical receivables, following the issuance by TVEST 2020A, LLC in August 2020.
  • The ADPB is the aggregate discounted cash flows of the collections associated with the TVEST 2021A portfolios litigation funding receivables (Litigation Receivables) and medical receivables (Medical Receivables and, collectively, Receivables).
  • The Class A Notes benefit from credit enhancement in the form of overcollateralization, subordination and a cash reserve account.

KBRA Assigns Preliminary Ratings to Upstart Securitization Trust 2021-3

Retrieved on: 
Monday, July 19, 2021
Banking, Professional services, Finance, Finance, Financial markets, Money, Structured finance, Fixed-income securities, United States housing bubble, Credit risk, Debt, Securitization, Credit enhancement, Upstart, Tranche

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Upstart Securitization Trust 2021-3 (UPST 2021-3), a $485.65 million consumer loan ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Upstart Securitization Trust 2021-3 (UPST 2021-3), a $485.65 million consumer loan ABS transaction.
  • The preliminary ratings reflect initial credit enhancement level of 34.97% for the Class A notes, 23.97% for the Class B notes and 10.29% for the Class C notes.
  • UPST 2021-3 represents the 25th ABS securitization collateralized by unsecured consumer loans originated through the online platform operated by Upstart Network, Inc. (Upstart or the Company) and the thirteenth from the Upstart Securitization Trust (UPST) ABS program.
  • KBRA considered its operational reviews of Upstart, as well as periodic update calls with the Company.

KBRA Assigns Preliminary Ratings to Mission Lane Credit Card Master Trust, Series 2021-A

Retrieved on: 
Tuesday, July 13, 2021
Banking, Professional services, Finance, Finance, Money, Financial markets, Structured finance, Credit cards, Credit risk, Payment systems, Fixed-income securities, Credit enhancement, Credit rating agency, Securitization, Visa Inc.

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes that will be issued from Mission Lane Credit Card Master Trust, Series 2021-A (MLANE 2021-A), a credit card ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes that will be issued from Mission Lane Credit Card Master Trust, Series 2021-A (MLANE 2021-A), a credit card ABS transaction.
  • The preliminary ratings reflect the initial credit enhancement levels ranging from 25.75% for the Class A notes to 3.00% for the Class D notes.
  • MLANE 2021-A represents Mission Lane LLCs (Mission Lane or the Company) inaugural securitization.
  • The Company provides services to support the Mission Lane Program, its general-purpose credit card program under the Visa brand.