Press Release|ABS
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KBRA Takes Rating Actions on Momnt Technologies Trust 2023-1

17 Feb 2026   |   New York

Contacts

KBRA affirms its rating on the Class A notes and downgrades its ratings on Class B and Class C notes issued from Momnt Technologies Trust 2023-1 (“MMNT 2023-1”), a home improvement loan ABS transaction. The affirmation reflects credit support that is adequate to support the outstanding rating. The downgrade of the Class B notes to CCC (sf) reflects deteriorating credit performance, which has resulted in a decrease in overcollateralization since last review, as well as continued deferral of interest payments. Collateral performance to date and interest deferrals on the Class B note due to the Cumulative Default Ratio Amortization Event Level I, Level II, and Level III CNL Triggers (“CNL Triggers”) breaches, increases the risk that when the class becomes the Controlling Class, the aggregate deferred interest would not be repaid within the timeframe required to avoid an Event of Default. Additionally, the downgrade of the Class C notes to CC (sf) reflects the CNL Trigger breaches and increased risk of principal loss since the last review as well as deferrals of interest payments which are expected to continue for a prolonged time.

The data used for this review is as of the January 2026 distribution date (December 2025 collection period). To date, the Class A notes have received timely interest payments.

Momnt Technologies Inc. was founded in 2019 and is a financial technology company headquartered in Atlanta, GA. Momnt Servicing Company, LLC is a subsidiary of Momnt Technologies, Inc. (in aggregate referred to as “Momnt” or the “Company”) and both provide lending solutions for businesses to offer financing to their customers through the Momnt Platform. Momnt operates the Momnt Platform that facilitates point-of-sale financing for consumers in the home improvement. All loans in this transaction were originated by Cross River Bank via the Momnt Platform, with Momnt providing clerical, ministerial, marketing, and servicing services in connection with the loans.

In performing its rating review, KBRA utilized its Consumer Loan ABS Global Rating Methodology, as well as its Global Structured Finance Counterparty Methodology and ESG Global Rating Methodology.

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: 1013492