DBRS Downgrades Quinten Road Funding LLC, Negative Trend

DBRS has today downgraded the $325 Million Facility (the Facility) issued by Quinten Road Funding LLC (Quinten Road) to A (low) from A (high). The trend has been changed to Negative from Stable. The Facility is collateralized by a portfolio of U.S. high-yield corporate loans. The DBRS rating addresses Quinten Road’s ability to make timely payments of interest and full payment of principal on or before the Facility’s legal maturity date.

The downgrade reflects the deterioration in credit quality of the underlying collateral pool since the transaction was initially assigned a DBRS rating on July 9, 2008.

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

The applicable methodology is Rating Global High Yield Securitizations, Structured Loans, and Tranched Credit Derivatives, which can be found under our website under Methodologies.

This is a Structured Finance rating.