DBRS Confirms AAA Rating on 1903 Offshore SPV, Ltd.

DBRS has today confirmed its rating of AAA to the $125 Million Facility (the Facility) issued by 1903 Offshore SPV, Ltd. (1903 Offshore) that is collateralized by a portfolio of U.S. high-yield corporate loans. The DBRS rating addresses the ability of 1903 Offshore to make timely payments of interest and the final payment of principal on the Facility’s legal maturity date.

The confirmation of the AAA rating reflects the observed performance of both the collateral pool and the structural mechanics since the transaction was initially assigned a DBRS credit rating on August 6, 2008.

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

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

This is a Structured Finance rating.