NEW YORK--( BUSINESS WIRE )--KBRA assigns preliminary ratings to eight classes of notes issued by Pagaya AI Debt Trust 2024-2 ("PAID 2024-2"), a consumer loan ABS transaction. PAID 2024-2 has initial credit enhancement levels of 61.35% for the Class A notes to 6.65% for the Class E notes. Credit enhancement is comprised of overcollateralization, subordination of junior note classes, a cash reserve account, and excess spread.