KBRA Places the Ratings of EnFin Residential Solar Receivables Trust 2024-1 on Watch Downgrade
27 Mar 2026 | New York
KBRA has placed the three outstanding classes of notes on EnFin Residential Solar Receivables Trust 2024-1 (“EnFin 2024-1”), a residential solar loan transaction, on Watch Downgrade due to deterioration in collateral credit performance evidenced by increases in cumulative net loss (“CNL”) volumes and a decrease in overcollateralization and credit enhancement for each class of notes.
The table below displays the initial and current credit enhancement and the Watch Placements undertaken in this review. To date, the securities have received timely interest payments.
Cumulative net losses and delinquencies for EnFin 2024-1 are depicted in the table below as of the February 2026 distribution date (January 2026 collection period). Cumulative net losses are above KBRA’s base case assumption of 2.65% at the same month of seasoning.
KBRA will continue to monitor the performance of the transactions and will seek to resolve or update the Watch Placements within 90 days.
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