Press Release|ABS

KBRA Places Ratings of Five Securities Across Three North American Railcar ABS Lease Securitizations on Watch Upgrade

9 Sep 2024   |   New York

Contacts

Earlier today, KBRA released its North American Railcar Lease ABS Rating Methodology. KBRA evaluated its 21 outstanding Railcar ABS Lease transactions using the new methodology and determined that five securities have the potential to be upgraded by as many as three notches.

The five ratings, which are listed below, were issued in connection with three of the 21 Railcar ABS Lease securitizations rated by KBRA. KBRA is seeking to resolve the Watch Placements following a review of the transactions, which it expects to complete within 90 days.

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

Methodologies

Disclosures

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

Doc ID: 1005841

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