DBRS Upgradeds Rating on Ascentium Funding I LLC

DBRS, Inc. (DBRS) has upgraded the rating on the Ascentium Funding I LLC facility to AA (sf) from ‘A’ (high) (sf). Ascentium Funding I LLC is a wholly owned subsidiary of Ascentium Capital LLC, formerly Main Street Bank. Ascentium Capital LLC is the originator and servicer of the leases in the facility.

The upgrade is due to a review of the amendments completed in July 2013, performance within expectations, the dynamic credit enhancement levels and the hard credit enhancement levels in the facility.

The assets in the facility include a revolving pool of diversified equipment loans and leases. The facility’s commitment termination date is August 2014, unless extended. The rated maturity date for the facility is 84 months after the maturity date.

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

The applicable methodology is Rating U.S. Equipment Lease and Loan Securitizations, which can be found on our website under Methodologies.

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