KBRA Assigns Preliminary Ratings to Brex Commercial Charge Card Master Trust, Series 2024-1

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns preliminary ratings to two classes (three tranches) of notes that will be issued from Brex Commercial Charge Card Master Trust, Series 2024-1 (“Brex 2024-1”), a corporate charge card asset backed securities transaction issued out of the Brex Commercial ChargeCard Master Trust (“Master Trust”). The ratings reflect the initial credit enhancement levels of 25.77% for the Class A-1 notes and 4.42% for the Class B notes. Credit enhancement on the notes consist