NCL Business Loan Trust 2022-1: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned a provisional rating to the Class A Business Loan-Backed Notes (Series 2022-1) to be issued by NCL Business Loan Trust 2022-1. This transaction represents the inaugural term asset-backed securitization (ABS) launched by Newtek Business Services Corp. The majority of loans in the collateral pool for the Series 2022-1 are secured by commercial real estate assets and machinery and equipment.