KBRA Takes Rating Actions on ACC Trusts

KBRA has downgraded the ratings on four classes of notes issued by two ACC Trust transactions. All four downgrades reflect ongoing deterioration in collateral credit performance, a decrease in overcollateralization, and increased servicing fees plus reimbursable expenses. Of the downgrades, three have been lowered to CC (sf) or below, as they are at an increased risk of principal loss. Two of these three ratings relate to ACC Trust 2022-1, including Class D, which is not receiving interest payments, as well as Class C which is susceptible to future interest shortfalls. KBRA has downgraded the ACC Trust 2022-1 Class B notes to BB (sf) due to the increased possibility that it will not be repaid in full by its legal final maturity date. The data used for this review is of the July 2024 distribution date (June 2024 collection period).

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For additional information regarding a specific transaction, see the list below to access ratings, reports, and disclosures:

Methodologies