Press Release

DBRS Confirms Two Series from Chesapeake Funding LLC

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July 10, 2013

DBRS, Inc. (DBRS) has today confirmed the outstanding ratings on Series 2012-2 and Series 2013-1 issued by Chesapeake Funding LLC.

The rating confirmation is based on an analysis of the issuance of two new series, Series 2013-2 and Series 2013-3 issued by the Chesapeake Funding LLC, availability of credit enhancement and the presence of triggers in each series. Current performance of the transaction is in line with DBRS expectations.

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

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

Ratings

Chesapeake Funding LLC, Series 2012-2

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jul-13	Series 2012-2, Class A	AAA (sf)	--	Confirmed	US
10-Jul-13	Series 2012-2, Class B	AA (sf)	--	Confirmed	US
10-Jul-13	Series 2012-2, Class C	A (sf)	--	Confirmed	US
10-Jul-13	Series 2012-2, Class D	BBB (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jul-13	Series 2013-1 Notes, Class A	AAA (sf)	--	Confirmed	US
10-Jul-13	Series 2013-1 Notes, Class B	AA (sf)	--	Confirmed	US
10-Jul-13	Series 2013-1 Notes, Class C	A (sf)	--	Confirmed	US
10-Jul-13	Series 2013-1 Notes, Class D	BBB (sf)	--	Confirmed	US

Chesapeake Funding LLC, Series 2012-2

Series 2012-2, Class A

Date Issued:Jul 10, 2013
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2012-2, Class B

Date Issued:Jul 10, 2013
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2012-2, Class C

Date Issued:Jul 10, 2013
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2012-2, Class D

Date Issued:Jul 10, 2013
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Chesapeake Funding LLC, Series 2013-1

Series 2013-1 Notes, Class A

Date Issued:Jul 10, 2013
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2013-1 Notes, Class B

Date Issued:Jul 10, 2013
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2013-1 Notes, Class C

Date Issued:Jul 10, 2013
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2013-1 Notes, Class D

Date Issued:Jul 10, 2013
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

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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