DBRS Assigns AA (high) Rating to DC Funding SPV, L.L.C. Revolving Credit Facility

DBRS has today assigned a rating of AA (high) to the revolving credit facility contemplating advances to be made by the lenders thereunder up to a total commitment amount of $200,000,000 pursuant to the Revolving Credit and Security Agreement dated as of October 13, 2010 among DC Funding SPV, L.L.C., as borrower, Natixis Financial Products LLC, as Administrative Agent, the Lender parties thereto and State Street Bank and Trust Company as Collateral Agent. The revolving credit facility is collateralized primarily by a portfolio of U.S. middle market corporate loans originated or acquired by the collateral manager, a middle market specialty finance company, and its affiliates. There will be a Reinvestment Period of 18 months. The rating addresses the timely payment of interest and the ultimate payment of principal on or before the Final Maturity Date of October 13, 2016.

The rating reflects the following:

(1) The Revolving Credit and Security Agreement, dated as of October 13, 2010.

(2) The integrity of the transaction structure.

(3) DBRS’s assessment of operational risk.

(4) DBRS’s assessment of portfolio quality.

(5) Adequate credit enhancement to withstand projected collateral loss rates under various cash flow stress scenarios.

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