Press Release

DBRS Takes Rating Actions on U.S. Equipment Asset-Backed Securities

Equipment

July 13, 2011

DBRS Inc. has conducted a review of all outstanding U.S. structured finance equipment loan and lease term asset-backed securities transactions. Of the 7 transactions reviewed, 34 outstanding classes were confirmed and two class was discontinued due to repayment of the noteholders.

The collateral supporting the transactions is performing within DBRS expectations and available credit enhancement for each class is sufficient to cover DBRS expected losses.

The following transactions have been reviewed:
•CIT Equipment Collateral 2010-VT1
•LEAF Receivables Funding 6, LLC - Equipment Contract Backed Notes, Series 2011-1
•LEAF Receivables Funding 5, LLC - Equipment Contract Backed Notes, Series 2010-4
•LEAF Receivables Funding 4, LLC - Equipment Contract Backed Notes, Series 2010-3
•LEAF Receivables Funding 3, LLC - Equipment Contract Backed Notes, Series 2010-2
•LEAF Receivables Funding 2, LLC - Equipment Contract Backed Notes, Series 2010-1
•Marlin Leasing Receivables XII LLC, Series 2010-1

Notes:
DBRS rating definitions and the terms of use of such ratings are available at www.dbrs.com.

The applicable methodology is the DBRS Master U.S. ABS Surveillance Methodology, dated January 2010, which can be found on our website under Methodologies.

Ratings

CIT Equipment Collateral 2010-VT1

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
13-Jul-11	Receivable-Backed Notes, Series 2010-VT1, Class A-1	Discontinued	--	Disc.-Repaid	US
13-Jul-11	Receivable-Backed Notes, Series 2010-VT1, Class A-2	AAA (sf)	--	Confirmed	US
13-Jul-11	Receivable-Backed Notes, Series 2010-VT1, Class A-3	AAA (sf)	--	Confirmed	US
13-Jul-11	Receivable-Backed Notes, Series 2010-VT1, Class B	AA (high) (sf)	--	Confirmed	US
13-Jul-11	Receivable-Backed Notes, Series 2010-VT1, Class C	A (sf)	--	Confirmed	US
13-Jul-11	Receivable-Backed Notes, Series 2010-VT1, Class D	BBB (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
13-Jul-11	Series 2010-1, Class A	AAA (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-1 , Class B	BBB (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-1 , Class C	BB (sf)	--	Confirmed	US E

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
13-Jul-11	Series 2010-2 Notes, Class A	AAA (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-2 Notes, Class B	AA (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-2 Notes, Class C	A (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-2 Notes, Class D	BBB (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-2 Notes, Class E	BB (sf)	--	Confirmed	US E

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
13-Jul-11	Series 2010-3, Class A	AAA (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-3, Class B	AA (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-3, Class C	A (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-3, Class D	BBB (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-3, Class E	BB (sf)	--	Confirmed	US E

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
13-Jul-11	Series 2010-4, Class A Notes	AAA (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-4, Class B Notes	AA (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-4, Class C Notes	A (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-4, Class D Notes	BBB (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-4, Class E-1 Notes	BB (sf)	--	Confirmed	US E
13-Jul-11	Series 2010-4, Class E-2 Notes	B (low) (sf)	--	Confirmed	US E

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
13-Jul-11	Series 2011-1, Class A	AAA (sf)	--	Confirmed	US E
13-Jul-11	Series 2011-1, Class B	AA (sf)	--	Confirmed	US E
13-Jul-11	Series 2011-1, Class C	A (sf)	--	Confirmed	US E
13-Jul-11	Series 2011-1, Class D	BBB (sf)	--	Confirmed	US E
13-Jul-11	Series 2011-1, Class E-1	BB (sf)	--	Confirmed	US E
13-Jul-11	Series 2011-1, Class E-2	B (low) (sf)	--	Confirmed	US E

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
13-Jul-11	Equipment Contract Backed Notes, Series 2010-1, Class A-1	Discontinued	--	Disc.-Repaid	US
13-Jul-11	Equipment Contract Backed Notes, Series 2010, Class A-2	AAA (sf)	--	Confirmed	US E
13-Jul-11	Equipment Contract Backed Notes, Series 2010, Class B	AA (sf)	--	Confirmed	US E
13-Jul-11	Equipment Contract Backed Notes, Series 2010, Class C	A (sf)	--	Confirmed	US E
13-Jul-11	Equipment Contract Backed Notes, Series 2010, Class D	BBB (sf)	--	Confirmed	US E

CIT Equipment Collateral 2010-VT1

Receivable-Backed Notes, Series 2010-VT1, Class A-1

Date Issued:Jul 13, 2011
Rating Action:Disc.-Repaid
Ratings:Discontinued
Trend:--
Rating Recovery:
Issued:US

Receivable-Backed Notes, Series 2010-VT1, Class A-2

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Receivable-Backed Notes, Series 2010-VT1, Class A-3

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Receivable-Backed Notes, Series 2010-VT1, Class B

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Receivable-Backed Notes, Series 2010-VT1, Class C

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Receivable-Backed Notes, Series 2010-VT1, Class D

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

LEAF Receivables Funding 2, LLC, Equipment Contract Backed Notes, Series 2010-1

Series 2010-1, Class A

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-1 , Class B

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-1 , Class C

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BB (sf)
Trend:--
Rating Recovery:
Issued:USE

LEAF Receivables Funding 3, LLC, Equipment Contract Backed Notes, Series 2010-2

Series 2010-2 Notes, Class A

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-2 Notes, Class B

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-2 Notes, Class C

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-2 Notes, Class D

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-2 Notes, Class E

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BB (sf)
Trend:--
Rating Recovery:
Issued:USE

LEAF Receivables Funding 4, LLC - Equipment Contract Backed Notes, Series 2010-3

Series 2010-3, Class A

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-3, Class B

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-3, Class C

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-3, Class D

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-3, Class E

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BB (sf)
Trend:--
Rating Recovery:
Issued:USE

LEAF Receivables Funding 5, LLC - Equipment Contract Backed Notes, Series 2010-4

Series 2010-4, Class A Notes

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-4, Class B Notes

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-4, Class C Notes

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-4, Class D Notes

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-4, Class E-1 Notes

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BB (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2010-4, Class E-2 Notes

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:B (low) (sf)
Trend:--
Rating Recovery:
Issued:USE

LEAF Receivables Funding 6, LLC - Equipment Contract Backed Notes, Series 2011-1

Series 2011-1, Class A

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2011-1, Class B

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2011-1, Class C

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2011-1, Class D

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2011-1, Class E-1

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BB (sf)
Trend:--
Rating Recovery:
Issued:USE

Series 2011-1, Class E-2

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:B (low) (sf)
Trend:--
Rating Recovery:
Issued:USE

Marlin Leasing Receivables XII LLC, Series 2010-1

Equipment Contract Backed Notes, Series 2010-1, Class A-1

Date Issued:Jul 13, 2011
Rating Action:Disc.-Repaid
Ratings:Discontinued
Trend:--
Rating Recovery:
Issued:US

Equipment Contract Backed Notes, Series 2010, Class A-2

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Equipment Contract Backed Notes, Series 2010, Class B

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:USE

Equipment Contract Backed Notes, Series 2010, Class C

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:USE

Equipment Contract Backed Notes, Series 2010, Class D

Date Issued:Jul 13, 2011
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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