DBRS Assigns Ratings to Marine One Funding Corporation

DBRS, Inc. (“DBRS”) has assigned an ‘A’ (sf) rating to senior interest or “A Purchase Certificate”, and BBB (sf) rating to the subordinate interest or “B Purchase Certificate” issued by Marine One Funding Corporation. The transaction is a $75,000,000 facility funded in the commercial paper market by Clipper Receivables Company, LLC.

The originator, Marine One Acceptance Corporation, is a specialty finance corporation that lends to consumers for largely recreational purposes. These loans are collateralized largely by boats and recreational vehicles. Other collateral includes horse trailers and motorcycles.

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

The applicable methodology is DBRS U.S. Retail Auto Loan Securitization Methodology, dated January 2010, which can be found on our website under Methodologies.