KBRA Assigns Preliminary Ratings to UK Logistics 2026-2 DAC Business Wire KBRA UK (KBRA) is pleased to announce the assignment of preliminary ratings to five classes of UK Logistics 2026-2 DAC, a CMBS single-borrower transaction. The collateral for the transaction is a £648.8 million limited recourse, first lien mortgage loan originated by Barclays Bank PLC in June 2026. The floating-rate loan has an initial two-year term [...]
KBRA Assigns Preliminary Ratings to Oban Cards 2026-1 PLC Business Wire KBRA UK (KBRA) assigns preliminary ratings to five classes of notes to be issued under the Oban master trust structure, a UK credit card ABS programme backed by receivables originated and serviced by Vanquis Bank Limited (Vanquis Bank, the Company or the Servicer). The issuance relates to Series 2026-1 (the Series), which will be issued [...]
KBRA Releases Research – Coming of Age: The Evolution of European Middle Market CLOs Business Wire KBRA releases research that examines the evolution of European middle market collateralised loan obligations (CLO) and the role they may play in the financing, distribution, and management of private credit portfolios across Europe as the market matures. Key Takeaways The European middle market CLO sector remains at an early stage of development, with only a [...]
KBRA Assigns Preliminary Ratings for RRE 29 Loan Management DAC May 20, 2026 KBRA UK (KBRA) assigns preliminary ratings to five classes of notes issued by RRE 29 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans. RRE 29 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the“collateral manager”). The [...]
KBRA Assigns Preliminary Ratings to Bletchley Park Funding 2026-1 PLC May 12, 2026 KBRA UK (KBRA) assigns preliminary ratings to six classes of notes issued by Bletchley Park Funding 2026-1 PLC, a static UK RMBS securitisation backed by a portfolio of first-ranking buy-to-let (BTL) mortgage loans secured on residential properties in England, Wales, and Northern Ireland. The aggregate balance of the provisional portfolio is £286.0 million as of [...]
KBRA Assigns Preliminary Ratings to GS Mortgage-Backed Securities Trust 2026-IRRP1 DAC May 5, 2026 KBRA Europe (KBRA) assigns preliminary ratings to six classes of notes to be issued by GS Mortgage-Backed Securities Trust 2026-IRRP1 DAC, a static RMBS securitisation collateralised by predominantly reperforming mortgage loans. As of 31 March 2026, the underlying collateral is a €459.7 million portfolio consisting of €451.2 million seasoned first lien performing and reperforming mortgages [...]
KBRA Releases Research – The Forward Look—European and UK Credit Views: Q2 2026 May 1, 2026 KBRA releases the latest quarterly report highlighting our European Macro Strategist Gordon Kerr’s view on key economic indicators, as well as what he identifies as the most influential factors driving credit markets in the upcoming quarter. The report also examines credit market valuations in the context of current and future market conditions. KBRA examines how [...]
KBRA Releases UK RMBS Indices: Q1 2026 April 27, 2026 KBRA releases its UK RMBS Indices: Q1 2026. The indices track key credit performance metrics, including early- (30+ days delinquent (DQ)), mid- (60+ days DQ), late-stage (90+ days DQ) delinquencies, annualised net losses, and prepayment activity, across prime, buy-to-let (BTL), and nonconforming (NC) mortgage collateral. Click here to view the report. Recent Publications UK RMBS [...]
KBRA Releases Research – European CLO Manager Style Comparisons: April 2026 Update April 20, 2026 KBRA releases a report that compares collateralised loan obligation (CLO) manager styles or approaches to investing in leveraged loan pools. As part of KBRA’s series on European CLO manager styles, this report follows our September 2025 update, highlighting key changes since that publication and focusing on the differences between CLO managers when evaluated across selected [...]
KBRA Releases Research – Electric Vehicle Residual Values in Europe: On the Road to Greater Stability? March 12, 2026 KBRA releases research examining recent trends in electric vehicle (EV) residual values across Europe and the implications for auto asset-backed securities (ABS). Following a sharp repricing after pandemic-era supply constraints unwound, recent data indicate that the pace of EV residual-value declines has moderated. The report also highlights how EV adoption trends, charging-infrastructure expansion, and evolving [...]