AUSTIN, Texas, Oct. 24, 2018 /PRNewswire/ — Independent credit rating agency DBRS has bestowed a private rating on a financing of a pool of Commercial Property Assessed Clean Energy (C-PACE) assets originated and funded by Austin-based Petros PACE Finance (www.petros-pace.com).
This rating is subsequent to another private rating issued for Petros on a single asset C-PACE transaction—the first single asset C-PACE transaction ever to receive a rating in the country—issued earlier this year.
“We are gratified to receive such high ratings from this respected agency after very thorough reviews,” said Petros PACE Finance Co-Founder and CFO Jim Stanislaus. “We have long-term, direct relationships with a healthy mix of institutional investor partners. Some of those investors appreciate ratings, so we are pleased to provide this to them. We also appreciated the opportunity in this transaction to leverage T-REX’s structuring platform and Performance Data Service that drives transparency and efficiency.”
The executives at Petros PACE Finance have deep expertise in structured finance and also direct relationships with a diverse mix of institutional investors. Petros PACE Finance served as its own placement agent on the assets and as its own structuring agent on the rated transaction with DBRS.
“We’re thrilled that Petros PACE selected the T-REX Platform to structure and stress their portfolio and manage ongoing performance data,” said Scott Miller, CBDO of T-REX. “We applaud Petros PACE Finance for their progressive approach to providing greater data transparency and access to the ratings and investor community. With additional investor appetite for Petros’ paper, we anticipate they will ramp issuance and scale quickly to unlock more liquidity in this exciting growth market.”
About Petros PACE Finance
Petros PACE Finance, LLC is a leading financier of long-term capital for C-PACE. The principals of Petros PACE—Mansoor Ghori, Jim Stanislaus, and Tommy Deavenport—have executive level expertise in all critical aspects of C-PACE: Commercial lending, structured finance, debt fund management, and direct, long-term institutional investor relationships. Learn more at petros-pace.com.
T-REX is the leading provider of managed data services and enterprise software for esoteric asset classes. With T-REX, market practitioners access a complete suite of tools and data to analyze, assess, and accurately price the risk associated with issuing and investing in renewable energy and other complex asset classes. Learn more at trexgroup.com/abs.