DBRS Assigned Provisional Ratings to Axis Equipment Finance Receivables II, LLC (Issuer) Equipment Contract Backed Notes, Series 2013-1

DBRS, Inc. (DBRS) has reviewed materials related to Axis Equipment Finance Receivables II, LLC Equipment Contract Backed Notes, Series 2013-1. Based on such review, DBRS has assigned the following provisional ratings:

• Class A rated AAA (sf)
• Class B rated AA (sf)
• Class C rated ‘A’ (sf)
• Class D rated BBB (sf)
• Class E rated BB (sf)
• Class F rated B (sf)

The transaction provides financing for the activities of Axis Capital Inc., a specialty finance company that engages primarily in the origination of small ticket and middle ticket equipment leases.

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.

The full report providing additional analytical detail is available by clicking on the link below or by contacting us at info@dbrs.com.

The Rule 17g-7 Report of Representations and Warranties is hereby incorporated by reference and can be found by clicking on the link below or by contacting us at info@dbrs.com.

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