The Western Riverside Council of Governments is preparing its first securitization of Property Assessed Clean Energy (PACE) bonds of the year, and the collateral is slightly more geographically diverse than its previous deals.

HERO Funding Trust 2015-1 will issue $240.1 million of class A notes with a preliminary ‘AA’ rating from Kroll Ratings. The notes have an expected maturity of 2040.

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