KBRA continues to track and present several key metrics in a dashboard format, sourced from quarterly collateral loan tapes provided by 24 KBRA-rated recurring revenue loan (RRL) asset-backed securities (ABS) transactions (see Appendix 1). This update incorporates collateral tapes dated as of June 2026, which include 1041 unique obligors. For more details on scope and metrics definitions, see Appendix 2.
Weighted-Average Portfolio Key Statistics
Credit performance remained stable during Q2 2026, with no defaults reported. Three borrowers transitioned from annual recurring revenue (ARR) to traditional EBITDA-based covenants, compared with four in the prior quarter.
For borrowers represented in both periods, weighted average (WA) ARR remained stable, with a slight increase quarter-over-quarter (QoQ). For the overall dashboard population, the WA ARR…
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