KBRA Assigns Preliminary Ratings to Ascentium’s Third Securitization

Kroll Bond Rating Agency assigned preliminary ratings to four note classes of Securitized Equipment Receivables Trust 2018-1. The notes are newly issued asset-backed securities backed by a portfolio of equipment leases and loans.

This transaction is Ascentium Capital’s third 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 sequentially to the notes.

As of January 1, 2018, the collateral consists of equipment loans and leases totaling approximately $129.0 million. The discounted balance for the collateral as of January 1 is based on the projected equipment loan and lease cash flows discounted at a rate of 4.40%.

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Terry Mulreany
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