Moody’s and KBRA Upgrade Their Published Ratings on Stonebriar’s ABS

Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance company, is pleased to announce a number of rating upgrades published by both Kroll Bond Rating Agency (“KBRA”) and Moody’s Investors Service (“Moody’s”) on its various asset-backed securities (“ABS”).    Stonebriar is an experienced ABS issuer and servicer with approximately $2bn of outstanding ABS across 5 deals each backed by a variety of large ticket equipment asset types. 

In reviewing Stonebriar’s ABS, KBRA upgraded 12 classes and affirmed 19 other classes.   Among KBRA’s various upgrades published in the Surveillance Report dated January 17, 2020, the Class A notes from Stonebriar’s 2017-1 and 2017-2 ABS were upgraded to “AA+” and “AAA”, respectively.

As part of its periodic surveillance of Stonebriar’s ABS, Moody’s upgraded 14 classes across Stonebriar’s 2017-1, 2017-2, 2018-1 and 2019-1 ABS.   In a press release dated January 30, 2020, Moody’s noted that “the transactions have exhibited strong performance with no cumulative net losses to date”.   Among the various upgrades by Moody’s, the Class A notes from Stonebriar’s 2017-1 and 2017-2 ABS were each upgraded to “Aa1”.

Dave B. Fate, President and CEO of Stonebriar, stated “Since June 2016, Stonebriar has executed six equipment securitization transactions totaling approximately $3 billion, attracting significant demand from a diverse group of domestic and international institutional investors.   We are pleased to see the company’s continued strong collateral performance and robust underwriting and servicing practices lead to continued ratings upgrades across our ABS.   These hybrid pools continue to perform exceptionally well.   Stonebriar is proud to count over 40 institutional investors in our ABS investor base, including some of the largest global asset managers, pensions and insurers.   We will continue to deliver significant value to all of the company’s stakeholders.”

About Stonebriar: Stonebriar, an Eldridge Industries’ business based in Plano, TX, is a leading provider of financing solutions for businesses in a wide variety of industries, of various sizes and credit profiles.  Stonebriar leases and finances assets located primarily in North America and select other jurisdictions worldwide currently through 5 distinct platforms—General Equipment, Aviation Capital, Rail Leasing, Real Estate and Sponsor Finance.  To learn more about Stonebriar Commercial Finance please visit www.StonebriarCF.com.

About Eldridge Industries: Eldridge Industries grows diversified businesses with a focus on Credit; Insurance and Insurance Administration; Real Estate; Sports and Media; Convenient Food; and Technology. In particular, the firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge please visit www.eldridge.com.