KBRA Assigns Preliminary Ratings to Alterna Funding III, LLC

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns preliminary ratings to two classes of notes issued by Alterna Funding III, LLC (Alterna 2024-1), an $184.849 million property tax lien ABS transaction. Proceeds from the Notes will be used to acquire a portfolio of 15,643 property tax liens from municipalities from eight states and Washington D.C., including Florida (33.1%), New Jersey (20.5%), and New York (14.8%) with a redemptive value of approximately $119.6 million (the Initial Tax Liens) and a weigh