DBRS Confirms Rating on Senior Certificates Issued by CIT Equipment Trust – VFC Series CBK1

DBRS, Inc. (DBRS) reviewed the information related to the contemplated increase in the advance rate for CIT Equipment Trust – VFC Series CBK1 Equipment Receivables-Backed Certificates. Based on our review, DBRS has confirmed that such increase in the advance rate will not result in a downgrade or withdrawal of the following ratings on the above referenced transaction:

Facility
Revolving Senior Certificates

Commitment Amount ($)
$1,000,000,000

Coupon
Variable

Rating
AAA (sf)

The assets securing the CIT Equipment Trust – VFC Series CBK1 senior certificates are a revolving pool of diversified small-ticket equipment financing contracts. The committed revolving period of the facility expires in July 2016, and it has a final maturity in 2023. Barclays Bank PLC serves as Administrative Agent.

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

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