Ascentium Capital issued a $330 million small-ticket equipment securitization of Ascentium Equipment Receivables 2018-1 Trust.
This represents the company’s ninth securitization since 2012 and the first time a non-investment grade, independent equipment finance company received AAA and Aaa ratings from both Standard & Poor’s and Moody’s.
“These top ratings confirm our successful long-term business model, proprietary credit model, and commitment to risk management,” said Tom Depping, CEO at Ascentium Capital.
Ratings are based on the strong financial condition of the company and consistent collateral performance that results in a stable portfolio.
Evan Wilkoff, executive vice president of Capital Markets for Ascentium, said, “We are very pleased with the confidence that our investors have in Ascentium Capital as further evidenced by the participation of 30 unique investors in this transaction. We will continue with our diversified funding strategy that helps maintain our strength and stability.”
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