Press Release|Structured Credit
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KBRA Affirms the Ratings for Monroe Capital Income Plus ABS Funding, LLC

19 Feb 2026   |   New York

Contacts

KBRA affirms ratings for the Class A, B and C Notes issued by Monroe Capital Income Plus ABS Funding, LLC. Since the transaction closed, the rated notes have received timely distributions of interest payments.

Monroe Capital Income Plus ABS Funding, LLC is originally a $425.0 million securitization managed by Monroe BDC Advisors, LLC (“Monroe” or the “Collateral Manager”), an affiliate of Monroe Capital LLC. The transaction closed in April 2022 and the reinvestment period ended in April 2024. The ratings reflect current credit enhancement levels, excess spread, and structural features.

As of the January 2026 trustee report, the portfolio comprises 240 assets from 45 obligors. The pool balance is $312.8 million and there is $0 principal proceeds reflecting the distributions made on the January 22, 2026 payment date. There are no defaulted, credit risk or delinquent obligations in the portfolio. The transaction is in compliance with the borrowing base condition and all portfolio tests except for the largest obligor, five largest obligors, and ten largest obligors concentration limitations.

KBRA’s ratings on the Class A and B Notes consider timely payment of interest and ultimate payment of principal by the applicable stated maturity date. KBRA’s rating on the Class C Notes considers ultimate payment of interest and principal by the applicable stated maturity date.

In performing the rating review, KBRA utilized its Structured Credit Global Rating Methodology, the Global Structured Finance Counterparty Methodology and the ESG Global Rating Methodology.

The ratings are based on information known to KBRA at the time of this publication.

To access ratings and relevant documents, click here.

Click here to view the report.

Methodologies

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: 1013604