MassMutual Asset Finance LLC is marketing a $705 million equipment lease securitization.
The deal, MMAF Equipment Finance LLC 2012-A, will be rated by Moody's Investors Service and Fitch Ratings.
The class A-1 notes have been assigned a preliminary rating of 'P-1'/'F-1' respectively by Moody's and Fitch. The class A-2, A-3, A-4 and A-5 notes will be assigned a preliminary 'Aaa'/'AAA' ratings.
MassMutual Asset Finance, a subsidiary of Massachusetts Mutual Life Insurance Company which is rated 'Aa2'/'P-1', is sponsoring the deal. Babson Capital Management is the performance guarantor of MMAF's obligations as servicer under the servicing agreement.
The notes are secured by equipment loans and leases and related equipment that includes approximately 42% leases and 58% loans.