Press Release|ABS
KBRA Takes Rating Actions on Sunnova Helios and Hestia Solar Loan Backed Notes
7 May 2024 | New York
KBRA affirms its ratings on 26 classes of notes and upgrades its ratings on two classes of notes issued from 11 securitizations collateralized by residential solar loans originated by Sunnova Energy Corporation (“Sunnova”). KBRA’s analysis indicated that existing credit enhancement for the notes is sufficient to support the revised and affirmed ratings. The data used for this review is as of the March 2024 distribution date (February 2024 collection period). To date, the notes have received timely interest payments.
Click here to view the report.
For additional information regarding a specific transaction, see the list below to access ratings, reports, and disclosures:
- Sunnova Helios III Issuer, LLC Solar Loan Backed Notes, Series 2019-A (Sunnova 2019-A)
- Sunnova Helios IV Issuer, LLC, Solar Loan Backed Notes Series 2020-A (Sunnova 2020-A)
- Sunnova Helios IX Issuer, LLC Solar Loan Backed Notes, Series 2022-B (Sunnova 2022-B)
- Sunnova Helios V Issuer, LLC Solar Loan Backed Notes, Series 2021-A (Sunnova 2021-A)
- Sunnova Helios VI Issuer, LLC, Solar Loan Backed Notes, Series 2021-B (Sunnova 2021-B)
- Sunnova Helios VII Issuer, LLC Solar Loan Backed Notes, Series 2021-C (Sunnova 2021-C)
- Sunnova Helios VIII Issuer, LLC Solar Loan Backed Notes, Series 2022-A (Sunnova 2022-A)
- Sunnova Helios X Issuer, LLC Solar Loan Backed Notes, Series 2022-C (Sunnova 2022-C)
- Sunnova Helios XI Issuer, LLC Solar Loan Backed Notes, Series 2023-A (Sunnova 2023-A)
- Sunnova Helios XII Issuer, LLC Solar Loan Backed Notes, Series 2023-B (Sunnova 2023-B)
- Sunnova Hestia I Issuer, LLC, Series 2023-GRID1