Initial CommonBond securitization earns investment-grade rating
Student loan funder and refinancer CommonBond today announced the closing of its first student loan securitization.
Made up of graduate student loans, the package asset value is $100 million.
The securitization received a rating of “A (high)” from DBRS and “Baa2” from Moody’s. The rating from Moody’s is their first ever given to a first-time issuing marketplace lending platform.
CommonBond’s CEO sees this achievement as validation of the platform’s work to date and an important part of future success.
“This is a major milestone for CommonBond that reflects the quality of our underwriting, the strength of our team, and the scale of our platform,” said David Klein. “This securitization has meaningfully expanded our investor base among top institutions and money managers, and further positions us to meet and exceed our growth objectives over the coming months and years.”