KBRA Assigns Preliminary Ratings to Kinetic ABS Issuer LLC, Series 2026-1
8 Jan 2026 | New York
KBRA assigns preliminary ratings to Kinetic ABS Issuer LLC, Series 2026-1 (Kinetic 2026-1), a communications infrastructure securitization (CIS) that is primarily collateralized by fiber network assets and related contracts. Kinetic 2026-1 represents Kinetic ABS Issuer, LLC (the Issuer's) 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 Series 2026-1 Notes are being used to pay transaction fees and expenses, fund transaction accounts and to fund the acquisition of the fiber network assets from Uniti Group Inc. and other non-securitization entities, which may then be used for general corporate purposes, success based capital expenditures and repayments of outstanding indebtedness.
Uniti Kinetic Fiber LLC (the Manager) will manage the fiber networks, customer agreements and other fiber network assets. The securitized assets include current and future fiber-to-the-premises (FTTP) infrastructure; current and future related leases, easements, rights of use, permits, licenses and other access agreements ( each a Fiber Network Underlying Rights Agreement); each customer agreement for the provision of services to a residential customer; and the control accounts and other accounts.
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