KBRA Assigns Preliminary Ratings to Sonic Capital LLC Series 2021-1 Senior Secured Notes
Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two classes of notes from Sonic Capital LLC Series 2021-1, a whole business securitization.
- Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two classes of notes from Sonic Capital LLC Series 2021-1, a whole business securitization.
- KBRA also anticipates affirming the ratings on the Series 2020-1 A-1 and A-2 Notes.
- The transaction is a master trust, and the Series 2021-1 Class A-2 Notes (the Series 2021-1 Notes) represent the Master Issuers sixth securitization within the trust, which was created in May 2011.
- Sonic Industries LLC, a wholly owned subsidiary of the Master Issuer, is the franchisor and operator of restaurants under the Sonic brand.