KBRA Affirms and Upgrades Ratings for FREED and ACHV ABS Trusts

KBRA affirms ratings on 12 classes of notes and upgrades ratings on 12 classes of notes issued from two FREED ABS Trust (“FREED”) transactions and eight ACHV ABS Trust (“ACHV”) transactions. KBRA’s analysis indicated that existing credit enhancement for the notes is sufficient to support the revised and affirmed ratings. All of the securities with upgraded ratings experienced increased credit enhancement. The data used for this review is as of the February 2026 distribution date (January 2026 collection period). To date, the securities have received timely interest payments.

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. In determining these rating actions, KBRA reviewed the collateral performance to date and projected the remaining loss for the transactions based on current assumptions. The rating actions, along with related deal and tranche performance information, are available in spreadsheet form in the accompanying FREED and ACHV ABS Trusts Comprehensive Surveillance Dashboard.

Freedom Financial Asset Management, LLC, the servicer of the FREED and ACHV securitizations, is a subsidiary of Freedom Financial Network Funding, LLC ("FFNF"). FFNF is a privately-held company based in San Mateo, California, with operations in Tempe, Arizona. It was founded in 2002 and offers consumer financial solutions including installment loans originated by a partner bank, debt relief and home equity lines of credit through subsidiaries, including Achieve, Lendage, LLC d/b/a Achieve Home Loans or Achieve Loans and Freedom Debt Relief, LLC d/b/a Achieve Debt Relief.

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For additional information regarding a specific transaction, see the list below to access ratings, reports, and disclosures:

Methodologies