KBRA assigns preliminary ratings to Fora Financial Asset Securitization 2021 LLC, series 2021-1

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NEW YORK–(COMMERCIAL THREAD) – Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four categories of notes (the “Notes”) issued by Fora Financial Asset Securitization 2021 LLC, Series 2021-1.

This transaction is the second securitization for Fora Financial (“Fora” or the “Company”). The proceeds from the sale of the Series 2021-1 Notes will be used to purchase accounts receivable, fund the Reserve Account and pay related fees and expenses. The Notes are “expandable” term notes so that at any time during the renewal period, the Issuer may periodically issue additional Notes, up to a maximum amount of $ 500.0 million, so long as that certain conditions are met, including receipt of the notification from the rating agency.

Founded in 2008, Fora is a financial services and technology company that uses its proprietary risk scoring model, transactional data, technology systems and platforms to deliver capital to small and medium-sized businesses. Fora’s underwriting approach draws on multiple data sources and metrics related to a business owner that the Company considers to be predictive of a business owner’s credit performance.

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Disclosures

Further information on key credit considerations, sensitivity analyzes that examine the factors that may affect these credit ratings and how they might lead to an upgrade or downgrade, and ESG factors (when they are a key factor in changing the credit rating or rating outlook) can be viewed in the full rating report mentioned above.

A description of all substantially significant sources that were used to prepare the credit rating and information about the method (s) (including significant models and sensitivity analyzes of the relevant key rating assumptions, if any) used to determine the credit rating are available in the information disclosure form (s) located here.

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

Further information relating to this rating measure is available in the information disclosure form (s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures can be found at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the United States Securities and Exchange Commission as NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a credit rating agency with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a credit rating agency with the UK Financial Conduct Authority under the temporary registration regime. In addition, KBRA is appointed as the designated rating agency by the Ontario Securities Commission for issuers of asset-backed securities to file a simplified prospectus or a shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a credit rating provider.


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