The Aqua Finance Shuffle: A New Yorker Tale

The Big Splash of 2025

Hey, fellow city slickers! You know how we’re always on the lookout for the next big thing in finance? Here’s a juicy bit for you. The Aqua Finance Issuer Trust 2025-B (“Aqua 2025-B”) is diving deep into the asset-backed securities pool with a splash of $368.61 million in notes. Not chump change by any New Yorker’s standards, right? This move is backed by a hefty $404.2 million in receivables.

Breaking Down the Numbers

Picture this: Aqua 2025-B is rolling out four classes of notes. The credit enhancement? It’s top-notch, ranging from 44.10% on the Class A notes to 9.30% on the Class D notes. We’re talking overcollateralization, subordination, cash reserves, and excess spread. All these fancy financial terms are like a safety net for the savvy investor.

From the Heartland to Wall Street

Founded in 1985, Aqua Finance, Inc. operates across all 50 states. The big buzz happened in 2022 when Athene Holding Ltd, a retirement services player, snapped up a controlling stake. Before that, Blackstone had the majority share. Remember when everyone thought Blackstone was the be-all and end-all? Times change.

The KBRA Angle

The Kroll Bond Rating Agency (KBRA) is on the case, applying a stack of methodologies like the Auto Loan ABS Global Rating Methodology and more. Their rigorous examination digs into the portfolio data, operational reviews, and those endless due diligence calls. They’re leaving no stone unturned.

• Auto Loan ABS Global Rating Methodology
• Consumer Loan ABS Global Rating Methodology
• Global Structured Finance Counterparty Methodology

For those rating junkies, here’s where you can peek into the nitty-gritty.

All About Transparency

If you’ve got a thirst for more details, the full rating report gives the lowdown on what might cause a rating to shift. Want to understand what makes these ratings tick? KBRA’s got your back with their Information Disclosure Forms.

KBRA: The Breakdown

Here’s a tip for the finance-curious—Kroll Bond Rating Agency is no small fry. They’re a full-service CRA, registered with the U.S. Securities and Exchange Commission (sounds fancy, huh?). They’re recognized across Europe, the UK, and even Taiwan. For you global movers and shakers, that’s cred right there.

Contacts Worth Knowing

For those wanting to dig even deeper, here’s who you should know:

• Jacob Paulose: Associate Director – jacob.paulose@kbra.com
• Maxim Berger: Senior Director – maxim.berger@kbra.com
• Stavros Cherpelis: Analyst – stavros.cherpelis@kbra.com
• Melvin Zhou: Managing Director – melvin.zhou@kbra.com
• Arielle Smelkinson: Business Development – arielle.smelkinson@kbra.com

And That’s a Wrap

So, there you have it, folks. Aqua 2025-B’s splash is making waves, and KBRA is riding the tide. For the full scene, grab a cup of joe and dive into the source version on Business Wire. Keep your eyes on the numbers and remember—it’s New York, baby. Everything’s bigger and bolder here.