DBRS Withdraws Rating on JGW Residual I, LLC

DBRS, Inc. (DBRS) has discontinued – withdrawn the BBB (low) (sf) rating on the Senior Term Notes issued by JGW Residual I, LLC.

The rating action reflects the uncertain impact to the Senior Term Notes by a recent amendment to the transaction (“Amendment”). The transaction was initially backed by a static collateral pool of seasoned residual interests. Under the Amendment, additional subordinated liabilities and residual interests were added to the transaction. The Amendment also provides for the option of including future additional subordinated debt and collateral to the transaction. This optionality prevents DBRS from being able to formulate a reliable view related to the impact of such changes on the Senior Term Notes.

DBRS notes that this rating action is based on solely on the impact of the Amendment to the Senior Term Notes issued by JGW Residual, LLC. This rating action does not impact other DBRS rated JGWPT structured settlement transactions.

Notes:
The applicable methodologies are Rating U.S. Structured Settlements Asset-Backed Securitizations and Rating Global Structured Finance CDO Restructurings, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.