{"id":19732,"date":"2026-06-11T20:00:00","date_gmt":"2026-06-11T18:00:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=4afe404ee9b3ea8cbb253b29bd49da94"},"modified":"2026-06-11T20:00:00","modified_gmt":"2026-06-11T18:00:00","slug":"kbra-assigns-preliminary-ratings-to-jimmy-johns-funding-llc-series-2026-1-senior-secured-notes","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=19732","title":{"rendered":"KBRA Assigns Preliminary Ratings to Jimmy John\u2019s Funding, LLC Series 2026-1 Senior Secured Notes"},"content":{"rendered":"<p>NEW YORK--(BUSINESS WIRE)--<a href=\"https:\/\/twitter.com\/hashtag\/creditratingagency?src=hash\" >#creditratingagency<\/a>--KBRA assigns preliminary ratings to Jimmy John\u2019s Funding, LLC Series 2026-1 Class A-1 VFN and Class A-2 Notes, a whole business securitization (WBS). The rating actions follow KBRA\u2019s analysis which indicates that existing credit enhancement for the notes and cash flows are sufficient to support the ratings following the issuance of the Series 2026- 1.<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260611908743\/en\/2829605\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260611908743\/en\/2829605\/22\/kbra-logo.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260611908743\/en\/2829605\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260611908743\/en\/2829605\/21\/kbra-logo.jpg\" \/><\/a><p>\nIn conjunction with the issuance of the Series 2026-1 Notes, the Series 2017-1 Class A-2-II, Series 2022-1 Class A-1, and Series 2022-1 Class A-2-I Notes are expected to be repaid, at which time KBRA expects to withdraw the associated ratings. At that time, KBRA anticipates affirming the ratings on the Series 2022-1 Class A-2-II and Series 2022-1 Class A-2-III Notes.<\/p><p>\nJimmy Johns is the franchisor and operator of fast casual restaurants under Jimmy Johns brand, focusing on convenience, execution speed, and centered on sandwich and wrap menu items. The system has 2,776 locations in 44 U.S. states, and Washington D.C. The system is approximately 99% franchised as of last twelve months (LTM) March 29, 2026. The system generated approximately $2.7 billion in systemwide sales (SWS) as of LTM March 29, 2026.<\/p><p>\nTo access ratings and relevant documents, click <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Ftransaction%2F68987%2Fratings&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=39f953b0fd6f1bf5705a5bc09fae2ffd\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p><p>\nClick <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FTNptNQxN%2Fjimmy-john-s-funding-llc-series-2026-1-pre-sale-report%3F&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=here&amp;index=2&amp;md5=6faee2251eb199e5220c863acaba0097\" rel=\"nofollow\" shape=\"rect\">here<\/a> to view the report.<\/p><p>\n<strong>Related Publications<\/strong><\/p><ul class=\"bwlistsquare\">\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FdvvdxzVM%2Fjimmy-johns-funding-llc-comprehensive-surveillance-report&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=Jimmy+John%26%238217%3Bs+Funding%2C+LLC+Comprehensive+Surveillance+Report&amp;index=3&amp;md5=7bdfb844bc223f80cffd25e71c27f117\" rel=\"nofollow\" shape=\"rect\">Jimmy John\u2019s Funding, LLC Comprehensive Surveillance Report<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FNFwvJbNM%2Fjimmy-john-s-funding-llc-series-2022-1-new-issue-report%3F&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=Jimmy+John%26%238217%3Bs+Funding%2C+LLC+Series+2022-1+New+Issue+Report&amp;index=4&amp;md5=a3b84b65c53c03f9a889c0f86ea30aaf\" rel=\"nofollow\" shape=\"rect\">Jimmy John\u2019s Funding, LLC Series 2022-1 New Issue Report<\/a><\/li>\n<\/ul><p>\n<strong>Methodologies<\/strong><\/p><ul class=\"bwlistsquare\">\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FHpFJmjxx&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=ABS%3A+Whole+Business+Securitization+%28WBS%29+ABS+Global+Rating+Methodology&amp;index=5&amp;md5=a54cfc69f484450c313e47acf0227420\" rel=\"nofollow\" shape=\"rect\">ABS: Whole Business Securitization (WBS) ABS Global Rating Methodology<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FRjVgkPtk&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=Structured+Finance%3A+Global+Structured+Finance+Counterparty+Methodology&amp;index=6&amp;md5=513b32c6e00768ad03fa9173a1137329\" rel=\"nofollow\" shape=\"rect\">Structured Finance: Global Structured Finance Counterparty Methodology<\/a><\/li>\n<\/ul><p>\n<strong>Disclosures<\/strong><\/p><p>\nFurther information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FJZRHwTBd%2F&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=ESG+factors&amp;index=7&amp;md5=0811cd1b8648e74e4cf64ff2e9fc53f8\" rel=\"nofollow\" shape=\"rect\">ESG factors<\/a> (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.<\/p><p>\nA description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Ftransaction%2F68987%2Fdisclosures&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=here&amp;index=8&amp;md5=710a018b1a44a3a0530466a3bb23bac0\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p><p>\nInformation on the meaning of each rating category can be located <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Funderstanding-ratings%2Frating-scales%2Flong-term-credit-rating&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=here&amp;index=9&amp;md5=0310dfe5008f9e112028e0bbc45e4369\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p><p>\nFurther disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com&amp;esheet=54552204&amp;newsitemid=20260611908743&amp;lan=en-US&amp;anchor=www.kbra.com&amp;index=10&amp;md5=2bec5a970fca60ca699a34a4ad561167\" rel=\"nofollow\" shape=\"rect\">www.kbra.com<\/a>.<\/p><p>\n<strong>About KBRA<\/strong><\/p><p>\nKroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan\u2019s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.<\/p><p>\nDoc ID: 1015424<\/p><br\/> <b>Contacts<\/b> <br\/><p>\n<strong>Analytical Contacts<\/strong><\/p><p>\nMatthew Gardener, Senior Director (Lead Analyst)\n<br\/>+1 646-731-1276\n<br\/><a  href=\"mailto:matthew.gardener@kbra.com\" rel=\"nofollow\" shape=\"rect\">matthew.gardener@kbra.com<\/a><\/p><p>\nXilun Chen, Managing Director\n<br\/>+1 646-731-2431\n<br\/><a  href=\"mailto:xilun.chen@kbra.com\" rel=\"nofollow\" shape=\"rect\">xilun.chen@kbra.com<\/a><\/p><p>\nSam Kwak, Director\n<br\/>+1 646-731-1319\n<br\/><a  href=\"mailto:sam.kwak@kbra.com\" rel=\"nofollow\" shape=\"rect\">sam.kwak@kbra.com<\/a><\/p><p>\nShane Olaleye, Senior Managing Director\n<br\/>+1 646-731-2432\n<br\/><a  href=\"mailto:shane.olaleye@kbra.com\" rel=\"nofollow\" shape=\"rect\">shane.olaleye@kbra.com<\/a><\/p><p>\nKenneth Martens, Managing Director (Rating Committee Chair)\n<br\/>+1 646-731-3373\n<br\/><a  href=\"mailto:kenneth.martens@kbra.com\" rel=\"nofollow\" shape=\"rect\">kenneth.martens@kbra.com<\/a><\/p><p>\n<strong>Business Development Contact<\/strong><\/p><p>\nArielle Smelkinson, Senior Director\n<br\/>+1 646-731-2369\n<br\/><a  href=\"mailto:arielle.smelkinson@kbra.com\" rel=\"nofollow\" shape=\"rect\">arielle.smelkinson@kbra.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>NEW YORK&#8211;(BUSINESS WIRE)&#8211;#creditratingagency&#8211;KBRA assigns preliminary ratings to Jimmy John\u2019s Funding, LLC Series 2026-1 Class A-1 VFN and Class A-2 Notes, a whole business securitization (WBS). The rating actions follow KBRA\u2019s analysis which indica&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19732","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/19732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19732"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/19732\/revisions"}],"predecessor-version":[{"id":19733,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/19732\/revisions\/19733"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}