KBRA Assigns a Preliminary Rating to Concord Music Royalties, LLC, Series 2024-1
8 Oct 2024 | New York
KBRA assigns a preliminary rating to Concord Music Royalties, LLC, Series 2024-1, a music royalty ABS securitization. The Series 2024-1 Notes represent the third series of notes by Concord Music Royalties, LLC. All series of notes share the same collateral pool. In conjunction with the issuance of the Series 2024-1 Notes, the Series 2023-1 Notes will be repaid in full, at which point KBRA will withdraw the related ratings and only the Series 2022-1 Notes and Series 2024-1 Notes will remain outstanding. In conjunction with both the issuance of the Series 2024-1 Notes, and the associated addition of collateral, as well as various amendments to the transaction, KBRA expects to affirm its ratings on the Series 2022-1 Notes. The outstanding ratings are consistent with the results of our cash flow analysis following the addition of the Series 2024-1 Notes and the associated addition of collateral, accounting for the amendments to the transaction.
To access rating and relevant documents, click here.
Click here to view the report.