Since KBRA rated the first public fiber-backed securitization, the fiber asset-backed securities (ABS) sector has expanded beyond relatively straightforward residential broadband to include a wide range of enterprise (B2B) fiber services, including the first enterprise fiber transaction in Q1 2025. In that span, KBRA has rated 13 issuances across enterprise and mixed fiber-to-the-premises (FTTP)/enterprise transactions, totaling approximately $16 billion. While FTTP—the standard residential fiber connection used by nearly one-half of U.S. households—generally comprises a standardized product, pricing structure, agreements, and customer base, enterprise fiber is more complex, with multiple service types tailored to different business needs.
Despite variations in how operators describe their offerings, most enterprise fiber products fall into a few core categories. This report breaks down these categories and highlights key differences, elucidating how these services support a diverse…
Log in or Subscribe to KBRA Premium to view this report.
Trusted Ratings. Actionable Intelligence.
With a KBRA Premium subscription, you gain full access to KBRA’s authoritative ratings, deep research, and industry-leading analytics. Built for market professionals who require clarity, context, and confidence in every decision.