DBRS Takes Rating Actions on U.S. Structured Settlements ABS Transactions

DBRS, Inc. recently published two updated methodologies, entitled Rating U.S. Structured Settlements Asset-Backed Securitizations and Master U.S. ABS Surveillance methodology, which contains a new section for monitoring structured settlement transactions. Using these methodologies, DBRS has conducted a review of its outstanding structured settlements asset-backed securities (ABS) transactions. Of the seven transactions reviewed, eight classes were confirmed and two were discontinued.

The following ratings for the securities listed below are confirmed:
•JGWPT XXIV LLC – Fixed Rate Asset-Backed Notes, Series 2011-2
-Class A confirmed at AAA (sf)
-Class B confirmed at BBB (sf)
•J.G. Wentworth XXIII LLC Fixed Rate Asset-Backed Notes, Series 2011-1
-Class A confirmed at AAA (sf)
-Class B confirmed at A (low) (sf)
•Novation Receivables Funding LLC, Series 2010-A
-Class A confirmed at ‘A’ (sf)
•NYLIMAC 2010-SS-1, LLC, Series 2010-1
-Class A confirmed at ‘A’ (sf)
•SuttonPark Structured Settlements 2011-1 LLC
-Class A confirmed at AAA (sf)
-Class B confirmed at BBB (sf)

The following ratings for the securities listed below are discontinued:
•Peachtree Structured Settlements, LLC
-Class A previously rated ‘A’ (low) (sf) now rated Disc.-Withdrawn.
•Structured Asset Receivable Fund I, LLC
-Class A previously rated ‘A’ (low) (sf) now rated Disc.-Withdrawn.

With respect to the ratings that are discontinued, sufficient data, including a current data tape and interest rate swap information, was not available to conduct the rating analysis.