KBRA Places Two Blue Bridge Funding 2023-1 LLC Ratings on Watch Downgrade
19 Dec 2025 | New York
KBRA has placed the ratings on the Class C Notes and Class D Notes of Blue Bridge Funding 2023-1 LLC, an equipment ABS transaction, on Watch Downgrade owing to increased cumulative gross and net losses, primarily related to the transactions exposure to the transportation industry. The overcollateralization also decreased to 1.76% of the pool balance as of the November 2025 payment date report from 6.70% at closing.
The table below displays the current capital structure. To date, the securities have received timely interest payments.
Blue Bridge Financial Inc. (Blue Bridge or the Company) is an independent finance company providing small and medium-sized businesses with secured loans and leases for revenue-producing, essential-use equipment. The Company was founded in 2009, based in Reston, VA and has approximately 35 employees.
KBRA will continue to monitor the performance of the transactions and will seek to resolve or update the Watch Placements within 90 days.
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