Oct 29, 2025 7:13 PM Eastern Daylight Time KBRA Assigns Preliminary Ratings to Pagaya Point of Sale Holdings Grantor Trust 2025-2 and Pagaya Point of Sale Holdings Trust 2025-2 Share NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to nine classes of notes issued by Pagaya Point of Sale Holdings Grantor Trust 2025-2 and Pagaya Point of Sale Holdings Trust 2025-2 (collectively "POSH 2025-2†), a point-of-sale unsecured consumer loan ABS transaction. POSH 2025-2 has initial hard credit enhancement ...

Oct 14, 2025 4:24 PM Eastern Daylight Time NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 13 classes of notes issued by Pagaya AI Debt Grantor Trust 2025-7 and Pagaya AI Debt Trust 2025-7 (collectively "PAID 2025-7†), an unsecured consumer loan ABS transaction. PAID 2025-7 has initial hard credit enhancement levels of 82.79% for the Class A-1 Notes to 1.36% for the Class F Notes. Credit enhancement is comprised of overcollateralization, subordination (except for the Class F Notes), a cash ...

交易概况 - KBRA对Upstart证券化信托2025-3发行的四类票据授予初步评级 该交易规模为3.2亿美元 由无抵押消费贷款支持[1] - 该证券化是Upstart通过其在线平台发起的第47笔资产支持证券(ABS)交易 发行主体Upstart Network Inc是上市公司Upstart Holdings Inc (NASDAQ: UPST)的全资子公司[3] 信用增强机制 - A类票据初始信用增强水平为56.45% B类为43.50% C类为33.30% D类为20.50%[2] - 信用增强措施包括超额抵押 超额利差 非递减现金储备账户以及次级结构(D类票据除外)[2] 评级方法论 - KBRA应用了消费贷款ABS全球评级方法论 全球结构化金融交易对手方方法论以及ESG全球评级方法论进行分析[4] - 分析过程中考虑了对Upstart的运营审查结果以及与公司的定期更新沟通[4]