DBRS, Inc. (DBRS) has today upgraded two classes of two outstanding public ratings. The rating actions are based on the current credit enhancement levels being sufficient to cover DBRS’s expected losses at their current respective rating levels.

The ratings are based on DBRS’s review of the following analytical considerations:

  • Transaction capital structure, proposed ratings and form and sufficiency of available credit enhancement.
  • The transaction parties’ capabilities with regard to origination, underwriting and servicing.
  • The credit quality of the collateral pool and historical performance.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

Please see attached appendix for additional information regarding sensitivity of assumptions used in the rating process.

RATINGS

Issuer Debt Rated Rating Action Rating Trend Notes Published Issued
Nations Equipment Finance Funding II, LLC Equipment Contract-Backed Notes, Series 2014-1, Class A Upgraded AA (sf) Feb 15, 2017 US
Nations Equipment Finance Funding III, LLC Equipment Contract-Backed Notes, Series 2016-1, Class A Upgraded A (high) (sf) Feb 15, 2017 US
US = USA Issued, NRSRO
CA = Canada Issued, NRSRO
EU = EU Issued
E = EU Endorsed
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating