Securitization

KBRA Rates Stonebriar Commercial Finance’s Latest ABS Transaction

Kroll Bond Rating Agency assigned ratings to eight classes of notes issued by SCF Equipment Leasing 2023-1 LLC and SCF Equipment Leasing Canada 2023-1 Limited Partnership (collectively SCF 2023-1), an equipment ABS transaction from Stonebriar Commercial Finance. read more

KBRA Rates Channel Partners Capital’s Latest Equipment ABS Transaction

Kroll Bond Rating Agency assigned preliminary ratings to four classes of notes issued by CP EF Asset Securitization II, LLC, Series 2023-1 (CPEF 2023-1), an equipment ABS transaction from Channel Partners Capital. read more

KBRA: Railcar Asset-Backed Securities Picking Up Speed

According to research by Kroll Bond Rating Agency, primary market volumes for railcar asset-backed securities peaked in 2021, but volumes have fallen significantly over the past two years as the relationship between rising interest rates and asset yields has made refinancing less attractive. read more

KBRA Releases Research on Aviation ABS Exposure to China

KBRA released a research report examining exposure to China in its rated universe of aviation asset-backed securities transactions. read more

Commercial Equipment Finance Notes Receive Credit Rating Upgrades from DBRS

DBRS Morningstar upgraded notes issued by Commercial Equipment Finance 2021-A, the securitization affiliate of Commercial Equipment Finance. read more

Equify Financial Closes Inaugural Securitization at $157.991MM

Equify Financial closed its inaugural securitization, EQFY 2023-1, the total value of which reached $157.991 million in large-ticket equipment notes. ATLAS SP Partners served as the lead manager and structuring agent for the transaction. read more

KBRA Assigns Preliminary Ratings to Equipment ABS from VFI

Kroll Bond Rating Agency assigned preliminary ratings to four classes of notes issued by VFI ABS 2023-1, LLC (VFI 2023-1), an equipment asset-backed securities transaction from Varilease Finance, an independent equipment finance company based in Salt Lake City. read more

KBRA: Aviation ABS Exposure to Israel-Hamas Conflict ‘Currently Limited’

Kroll Bond Rating Agency released research about the impact of the current Israel-Hamas conflict on aviation asset-based securities, stating that exposure to Israeli lessees in such transactions is currently limited. read more

North Mill Announces $456MM Term Securitization

North Mill Equipment Finance closed its seventh asset-backed securitization, NMEF Funding 2023-A. read more

CNH Industrial Capital Closes $500MM of 5.5% Notes

CNH Industrial Capital completed its previously announced offering of $500 million in aggregate principal amount of 5.5% notes due 2029, with an issue price of 99.399%. read more

KBRA: Private Credit ABS Volume Continues at Healthy Clip

According to new research from Kroll Bond Rating Agency, private asset-backed securities as a proportion of KBRA’s total ABS rating assignments have routinely approached or exceeded 25% of the transaction mix dating back to 2020. read more

KBRA Assigns Preliminary Ratings to North Mill Equipment Finance ABS

Kroll Bond Rating Agency assigned preliminary ratings to five classes of notes issued by NMEF Funding 2023-A, an equipment asset-backed securitization. NMEF 2023-A represents North Mill Equipment Finance’s seventh equipment ABS. read more

Verdant Commercial Capital Closes Inaugural 144a Term Securitization at $251MM

Verdant Commercial Capital closed its initial 144a term securitization, VERD 2023-1, which issued notes totaling $251.253 million that are backed by a portfolio of equipment leases and loans. read more

DLL Closes $1B Securitization Backed by AGCO Finance Leases and Loans

DLL closed DLLAA 2023-1, a U.S. securitization transaction, issuing notes totaling $1 billion. The notes are backed by loans and leases secured with new and used agricultural equipment originated by AGCO Finance, a joint venture between DLL and AGCO. read more

KBRA Rates Verdant Commercial Capital’s First Public Equipment ABS Transaction

Kroll Bond Rating Agency assigned preliminary ratings to five classes of notes issued by Verdant Receivables 2023-1 LLC (Verdant 2023-1), an equipment ABS transaction from Verdant Commercial Capital. Verdant 2023-1 represents the company’s first public equipment ABS transaction. read more

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