DBRS Confirms Rating of Ascentium Funding I LLC

DBRS has today confirmed the Facility rating of Ascentium Funding I LLC at AA (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 rating confirmation is a result of the review of the amendments completed in June 2014, 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 has been extended to October 2015, unless extended again. The rated maturity date for the facility is 84 months after the maturity date.

Note:
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.