KBRA Assigns Preliminary Ratings to Redaptive EAAS Issuer 2025-1, LLC
NEW YORK--(BUSINESS WIRE)-- KBRA assigns preliminary ratings to two classes of notes issued by Redaptive EAAS Issuer 2025-1, LLC. The transaction is collateralized by a diversified pool of 1,445 leases to 46 obligors associated with various installations with a total securitization value of approximately $244.5 million which includes a prefunding pool of about $25.9 million.
The three largest geographic concentrations include Texas, California, and New Jersey, which together represent approximately 31.8% of the number of leases and approximately 43.2% of the securitization value. The portfolio consists of approximately 49.9% fixed payment contract type and 50.2% performance adjusted payment contract type by securitization value and approximately 55.6% fixed payment contract type and 44.5% performance adjusted payment contract type by number of leases. The weighted average original and remaining tenor of the leases is 115 months and 95 months, respectively.
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Methodologies
- ABS: General Global Rating Methodology for Asset Backed Securities
- Structured Finance: Global Structured Finance Counterparty Methodology
- ESG Global Rating Methodology
Disclosures
Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.
A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.
Information on the meaning of each rating category can be located here.
Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.
About KBRA
Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.
Doc ID: 1012520
View source version on businesswire.com: https://www.businesswire.com/news/home/20251203535785/en/
Analytical Contacts
Kenneth Martens, Managing Director (Lead Analyst)
+1 646-731-3373
[email protected]
Oluwatobi Tofade, Associate
+1 646-731-1277
[email protected]
Zara Shirazi, Managing Director
+1 646-731-3326
[email protected]
Xilun Chen, Managing Director (Rating Committee Chair)
+1 646-731-2431
[email protected]
Business Development Contact
Arielle Smelkinson, Senior Director
+1 646-731-2369
[email protected]
Source: Kroll Bond Rating Agency, LLC
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