DBRS Upgrades $800 Million Facility Issued by FirstLight Funding I, Ltd. to AA (sf)

DBRS has today upgraded the $800 Million Facility (the Facility) issued by FirstLight Funding I, Ltd. (FirstLight) to AA (sf) from A (sf). The Facility is collateralized by a portfolio of U.S. high-yield corporate loans. The DBRS rating addresses FirstLight Funding I, Ltd.’s ability to make timely payments of interest and full payment of principal on or before the Facility’s legal maturity date.

The upgrade reflects significant paydown of the Facility since the time of our last review on August 19, 2010.

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.

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