Finance

KBRA Assigns Preliminary Scores to SESAC Finance, LLC Sequence 2022-1 Senior Secured Notes

NEW YORK, June 27, 2022–(BUSINESS WIRE)–KBRA assigns preliminary rankings to a few lessons of notes from SESAC Finance, LLC Sequence 2022-1, a complete enterprise securitization.

SESAC 2022-1 represents the second collection of notes issued by SESAC Finance, LLC, following the issuance of Sequence 2019-1 (SESAC 2019-1) on August 9, 2019. Extra collateral associated to collections from Audio Community Restricted (Audio Community), has been added to the present collateral, which is shared by each collection of notes. Audio Community is a manufacturing music firm targeted on creating authentic music that may be licensed to creators to be used on a number of platforms. At the side of the issuance of SESAC 2022-1, KBRA anticipates affirming the rankings on the Grasp Issuer’s excellent Class A-2 Notes (the Current Notes, and, along with the Sequence 2022-1 Notes, the Notes) and withdrawing the rankings on the Sequence 2019-1 Class A-1 Notes. The latter are at present undrawn and can be changed by the Sequence 2022-1 Class A-1 Notes. The rankings are in keeping with the outcomes of our money circulate evaluation following the addition of the Sequence 2022-1 Notes.

Click on right here to view the report. To entry rankings and related paperwork, click on right here.

Associated Publications

Disclosures

Additional info on key credit score concerns, sensitivity analyses that take into account what elements can have an effect on these credit score rankings and the way they might result in an improve or a downgrade, and ESG elements (the place they’re a key driver behind the change to the credit standing or score outlook) could be discovered within the full score report referenced above.

An outline of all considerably materials sources that had been used to arrange the credit standing and knowledge on the methodology(ies) (inclusive of any materials fashions and sensitivity analyses of the related key score assumptions, as relevant) utilized in figuring out the credit standing is offered within the Data Disclosure Type(s) situated right here.

Data on the that means of every score class could be situated right here.

Additional disclosures regarding this score motion can be found within the Data Disclosure Type(s) referenced above. Extra info relating to KBRA insurance policies, methodologies, score scales and disclosures can be found at www.kbra.com.

About KBRA

Kroll Bond Ranking Company, LLC (KBRA) is a full-service credit standing company registered with the U.S. Securities and Change Fee as an NRSRO. Kroll Bond Ranking Company Europe Restricted is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Ranking Company UK Restricted is registered as a CRA with the UK Monetary Conduct Authority pursuant to the Momentary Registration Regime. As well as, KBRA is designated as a chosen score group by the Ontario Securities Fee for issuers of asset-backed securities to file a brief type prospectus or shelf prospectus. KBRA can also be acknowledged by the Nationwide Affiliation of Insurance coverage Commissioners as a Credit score Ranking Supplier.

View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20220627005693/en/

Contacts

Analytical:

Xilun Chen, CFA, Managing Director (Lead Analyst)
+1 (646) 731-2431
xilun.chen@kbra.com

Shane Olaleye, Senior Director
+1 (646) 731-2432
shane.olaleye@kbra.com

Edward Napoli, Director
+1 (646) 731-1284
edward.napoli@kbra.com

Preston Boutwell, Affiliate
+1 (646) 731-2367
preston.boutwell@kbra.com

Rosemary Kelley, Senior Managing Director (Ranking Committee Chair)
+1 (646) 731-2337
rosemary.kelley@kbra.com

Enterprise Growth:

Ted Burbage, Managing Director
+1 (646) 731-3325
ted.burbage@kbra.com

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