KBRA Assigns Preliminary Ratings to MTP ABS Funding, LLC, Series 2026-1

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to MTP ABS Funding, LLC, Series 2026-1 (the "Series 2026-1 Notes"), consisting of Class A-1-V Notes, Class A-2 Notes, and Class B Notes, a communications infrastructure securitization that is primarily collateralized by ground leases and rooftop easements underlying or related to wireless infrastructure and related contracts.

The Series 2026-1 Notes issued by MTP ABS Funding, LLC represent the first public securitization for the Issuer. The Issuer is an indirect, wholly-owned subsidiary of TowerPoint Infrastructure Partners, LLC. The primary business of the Issuer is to originate and manage ground leases, along with tenant leases and site management agreements; in addition, the Issuer acquires, owns, maintains, markets and manages wireless communications towers, including associated fiber and fiber-related services. This include the acquisition and ownership of real property interests, including fee simple ownership, master leases, easements and rooftop leases, underlying towers or wireless communications equipment that generate cash flow.

The transaction structure is a master trust, and as such, the indenture permits the issuance of additional classes and series of notes subject to certain conditions including rating agency confirmation. The proceeds from the sale of the Notes will be used to repay existing indebtedness, fund transaction accounts, pay transaction fees and for general corporate purposes.

To access ratings and relevant documents, click here.

Click here to view the report.

Methodologies

• ABS: Communications Infrastructure Securitization (CIS) Global Rating Methodology
• Structured Finance: Global Structured Finance Counterparty Methodology
• ESG Global Rating Methodology

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1014497