DBRS, Inc. (DBRS) confirmed the ratings of four securities issued by two U.S. asset-backed securities that are backed by structured settlement receivables. Performance trends of the confirmed securities are such that credit enhancement levels are sufficient to cover DBRS’s loss expectations at their current respective rating levels.
The transactions reviewed were as follows:
-- Stone Street Receivables Funding 2015-1
-- Structured Asset Funding Securitization I LLC, Series 2015-A
The ratings are based on DBRS’s review of the following analytical considerations:
-- Transaction capital structure, current 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.
The principal methodologies are the DBRS Master U.S. ABS Surveillance Methodology, Rating CLOs and CDOs of Large Corporate Credit and Rating U.S. Structured Finance Transactions, 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 related appendix for additional information regarding the sensitivity of assumptions used in the rating process.
For more information on this credit or on this industry, visit www.dbrs.com or contact us at firstname.lastname@example.org.
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