DBRS, Inc. (DBRS) assigned a rating of BBB (sf) to the Certificates issued by Laurel Road Servicing Master Trust, Series 2018-SB. The Certificates evidence an interest in a trust fund that consists of master servicing rights related to certain outstanding student loan securitizations sponsored by Laurel Road Bank. The rating on the Certificates considers the quality of the master servicer or servicer under the related servicing agreements and the potential linkage to the performance of the master servicer or servicer.
The principal methodologies are Rating U.S. Structured Finance Transactions, Structured Finance Flow-Through Ratings and Global Methodology for Rating Non-Bank Financial Institutions, which can be found on dbrs.com under Methodologies & Criteria.
The rated entity or its related entities did participate in the rating process for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.
Please see the attached appendix for additional information regarding the sensitivity of assumptions used in the rating process.
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