DBRS Assigns AA (low) (sf) Rating to the A5 Funding L.P. Revolving Credit Facility

DBRS has today assigned a rating of AA (low) (sf) to the A5 Funding L.P. Revolving Credit Facility (the “Facility”) managed by A5 Fund Management LLC, an affiliate of Cerberus Capital Management, L.P., with the maximum commitment amount of $146,703,709.89. The Facility is collateralized primarily by a portfolio of U.S. middle market corporate loans and other corporate obligations. The DBRS rating addresses A5 Funding L.P.’s ability to make timely payments of interest and ultimate payment of principal on or before the Final Maturity Date of the Revolving Credit Facility.

The Rating reflects the following:

(1) The Credit Agreement dated May 26, 2011

(2) The integrity of the transaction structure

(3) DBRS’s assessment of the portfolio quality

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

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

The rating is based on information provided by the Administrative Agent to DBRS to date.

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