KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2024-S1 and Pagaya AI Debt Trust 2024-S1
KBRA assigns preliminary ratings to seven classes of notes issued by Pagaya AI Debt Grantor Trust 2024-S1 and Pagaya AI Debt Trust 2024-S1 (collectively “PAID 2024-S1”), a consumer loan ABS transaction.
- KBRA assigns preliminary ratings to seven classes of notes issued by Pagaya AI Debt Grantor Trust 2024-S1 and Pagaya AI Debt Trust 2024-S1 (collectively “PAID 2024-S1”), a consumer loan ABS transaction.
- PAID 2024-S1 has initial credit enhancement levels of 62.65% for the Class A notes to 8.38% for the Class E notes.
- KBRA will not be providing ratings on the Class F, the Certificates, and the Class EFR securities.
- This transaction is the 21st publicly rated securitization sponsored by Pagaya Structured Products LLC (collectively with its affiliates, “Pagaya” or the “Company”).