KBRA assigned preliminary ratings to four classes of notes issued by Sunrun Bacchus Issuer 2025-1, LLC. This transaction is collateralized by a diversified pool of 39,458 leases and power purchase agreements (PPAs) associated with residential solar photovoltaic installations, some of which include energy storage equipment.
The total aggregate discounted solar asset balance (ADSAB) for the collateral pool is approximately $938.7 million, based on a 7.5% discount rate. The securitization share of this ADSAB is approximately $827.5 million, providing substantial funding for Sunrun's operations.
The portfolio exhibits geographic diversification, with the three largest concentrations in California, Puerto Rico, and Massachusetts, collectively representing about 68.9% of the systems. The weighted average FICO score of the underlying customers is 738, indicating a strong credit profile for the asset pool.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.