KBRA Assigns Preliminary Ratings to Point Broadband Funding, LLC, Series 2025-1 Senior Secured Notes
23 Jun 2025 | New York
KBRA assigns preliminary ratings to the Series 2025-1 Class A-1-V Notes, Class A-1-L Notes, Class A-2 Notes, Class B Notes, and Class C Notes (Point 2025-1, or the Series 2025-1 Notes) from Point Broadband Funding, LLC, (the Issuer), a communications infrastructure securitization (CIS).
Point 2025-1 represents Point Broadband Funding, LLC’s (the Issuer) first securitization. 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 repay existing indebtedness, fund the collection and reserve accounts, pay transaction fees, and for general corporate purposes, which may include growth capital expenditures.
The business of the Issuer is to own, manage, and operate fiber optic communications systems, wireless communications infrastructure, and fiber optic systems which facilitate data, IP-delivered voice, broadband, voice and streaming video and other services, and any related revenue streams and equipment. The assets consist of FTTP infrastructure; related easements, rights of use and other access agreements (the Fiber Network Underlying Rights Agreements and, together with FTTP infrastructure, the Fiber Network Assets); wireless communications, antennae, and other equipment for other wireless information (collectively, the Wireless Network Assets and, together with the Fiber Network Assets, the Network Assets); and any current or future related customer agreements.
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