KBRA Assigns Preliminary Ratings to Ascentium Equipment Receivables


Back to
Today's News

Kroll Bond Rating Agency assigned preliminary ratings to six note classes of Ascentium Equipment Receivables 2017-1 Trust. The notes are newly issued asset-backed securities backed by a portfolio of equipment leases and loans.

This transaction is Ascentium Capital’s eighth securitization supported by small and mid-ticket general equipment. The transaction features a payment waterfall, whereby all collections after expenses and interest payments will pay down principal, until the target overcollateralization (10.25%) as a percentage of the current collateral balance is reached.

As of September 30, 2017, the collateral consists of equipment loans and leases totaling approximately $218.8 million. The balance of the collateral is subject to certain eligibility criteria and will be funded during a 60-day period following the closing date and will total approximately $31.9 million. The discounted balance for the collateral as of the statistical calculation date is based on the projected equipment loan and lease cash flows discounted at a rate of 4.75%.

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
tmulreany@monitordaily.com
Frank Battista
Advertising: 800 708 9373 x120
fbattista@monitordaily.com

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com