Verdant Commercial Capital Gains Moody’s Credit Rating Upgrade on Three Classes of ABS Notes

Recognition reflects strong performance, credit quality

CINCINNATI--(BUSINESS WIRE)--Verdant Commercial Capital, LLC, one of the top 10 independent equipment finance companies in the United States, achieved a significant credit rating upgrade when Moody’s Ratings raised the ratings on three classes of equipment asset-backed securities notes sponsored by Verdant Receivables 2023-1 LLC (VERD 2023-1).

Moody’s Ratings provides insights into the creditworthiness of financial obligations and entities, helping investors and issuers navigate global capital markets. Its credit rating upgrade underscored the strong performance and credit quality of Verdant’s securitized assets.

Moody’s cited Verdant’s improving credit enhancements, strong collateral performance and solid debt management in its ratings. The credit rating agency also cited a robust reserve structure, growing credit support and solid equipment market fundamentals.

The rating actions are as follows:

Issuer: Verdant Receivables 2023-1 LLC

• Class B Asset Backed Notes, Upgraded to Aa1 (sf); previously on Aug 16, 2023 Definitive Rating Assigned Aa2 (sf)
• Class C Asset Backed Notes, Upgraded to Aa3 (sf); previously on Aug 16, 2023 Definitive Rating Assigned A1 (sf)
• Class D Asset Backed Notes, Upgraded to Baa1 (sf); previously on Aug 16, 2023 Definitive Rating Assigned Baa2 (sf)

A comprehensive review of all credit ratings for the respective transaction was conducted during a rating committee.

"Moody’s Ratings upgrades are a testament to Verdant’s continued commitment to financial excellence as well as our ability to deliver solid, long-term value for our investors,” said Verdant’s Chief Financial Officer Robert Moskovitz. “We are committed to extending this momentum while remaining dedicated to our vendor-based model, our partners and our Verdant team.”

Headquartered in Cincinnati, Ohio, Verdant delivers innovative solutions through agility, expertise and growth. Verdant simplifies financing options to solve its partners’ business-critical equipment needs by providing the expertise and discipline of a bank and the flexibility of an entrepreneurial independent.

ABOUT VERDANT COMMERCIAL CAPITAL

Verdant Commercial Capital is one of the top 10 largest independent equipment finance companies in the United States. Verdant provides financing solutions for the acquisition of business essential equipment and software in six industries: Industrial; Manufacturing; Specialty Vehicle; Golf, Sports & Entertainment; Renewables & Energy Efficiency; and Technology & Office Automation. Verdant brings partners the ability to fund business with transaction sizes from below $25,000 up to $100 million. The company is headquartered in Cincinnati and has offices across the U.S. Verdant was named a Top Workplace by The Enquirer Media in 2022, 2023 and 2024. For more information, visit www.verdantcc.com.