KBRA Affirms Ratings on Kapitus Asset Securitizations
15 Nov 2024 | New York
KBRA affirms its ratings on 10 classes of notes issued from two Kapitus Asset Securitization LLC transactions, Series 2022-1 (“Kapitus 2022-1”) and Series 2022-2 (“Kapitus 2022-2”), and Kapitus Asset Securitization III LLC transaction Series 2023-1 (“Kapitus 2023-1”). All three transactions are small business loans and merchant cash advance ABS transactions. KBRA’s analysis indicated that the existing credit enhancement for the notes is sufficient to support the affirmed ratings. The data used for this review is as of the October 2024 distribution date (September 2024 collection period). To date, the securities have received timely interest payments.
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