DBRS Morningstar Confirms Rating on PDRIVE LLC Facility at AAA (sf)

DBRS, Inc. (DBRS Morningstar) confirmed its rating on PDRIVE LLC’s Facility at AAA (sf). The confirmation is a result of credit enhancement levels that are sufficient to cover DBRS Morningstar’s expected losses at their current rating levels.

The rating is based on DBRS Morningstar’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.
-- Credit quality of the collateral pool and historical performance.

Notes:
The principal methodology is DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com under Methodologies & Criteria.

The rated entity or its related entities did not participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.

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