KBRA Assigns Preliminary Rating to AMCR ABS Trust 2026-A
19 Mar 2026 | New York
KBRA assigns a preliminary rating to one class of notes issued by AMCR ABS Trust 2026-A (“AMCR 2026-A”), an unsecured consumer loan ABS transaction. AMCR 2026-A has initial hard credit enhancement of 44.2% for the Class A notes. Credit enhancement is comprised of overcollateralization, subordination (except for the Class D notes), a cash reserve account funded at closing, and excess spread.
AMCR 2026-A will issue four classes of notes totaling $149.3 million, with KBRA rating the Class A notes.
This transaction represents the third ABS securitization collateralized by unsecured consumer loans originated through credit9 LLC. Americor Holdings, the parent company to credit9, is an Irvine, CA-based debt resolution company founded in 2015, and Americor Funding, LLC, an indirect wholly owned subsidiary of Americor Holdings, has been offering debt management solutions since 2016. credit9 will use the net proceeds from the issuance of the notes to fund the reserve account, to repay existing debt and to fund the prefunding account which will be used to purchase additional eligible loans during the prefunding period.
KBRA applied its Consumer Loan ABS Global Rating Methodology, Global Structured Finance Counterparty Methodology and ESG Global Rating Methodology as part of its analysis of the transaction’s underlying collateral pool and proposed capital structure. KBRA also conducted an operational assessment of credit9, as well as a review of the transaction’s legal structure and transaction documents. Operative agreements and legal opinions will be reviewed prior to closing.
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