KBRA Assigns Ratings to Cogent IPv4, LLC, Series 2025-1 Senior Secured Notes and Takes Other Rating Actions
11 Apr 2025 | New York
KBRA is assigning ratings to the Series 2025-1 Class A-2 Notes from Cogent IPv4 Issuer, a securitization primarily collateralized by Internet Protocol version 4 (IPv4) addresses and related contracts and receivables.
The Series 2025-1 Notes represent the Issuer's second securitization following the inaugural Series 2024-1 Notes. The transaction structure is a master trust, and as such, the indenture permits the issuance of additional classes and series of notes subject to certain conditions including rating agency confirmation. The proceeds from the sale of the Notes will primarily be used to certain expenses and fees of the transaction, to fund applicable securitization accounts, including a Prefunding Account and accompanying Yield Maintenance Reserve Account, and to be used for general corporate purposes. KBRA is also affirming the ratings on the Issuer’s outstanding Series 2024-1 Notes.
To access ratings and relevant documents, click here.
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