DBRS Places A10 Revolving Asset Financing I, LLC Under Review with Developing Implications

DBRS has today placed the ratings of A10 Revolving Asset Financing I, LLC Under Review with Developing Implications, as listed below:

-- $200 million Class A Senior Variable Funding Notes at AA (low) (sf), Under Review with Developing Implications
-- $10 million Class B Senior Subordinated Floating Rate Notes at BBB (high) (sf), Under Review with Developing Implications

The transaction originally closed in October 2012 and was extended and upsized in October 2013. The ratings are based on a pool composition of commercial real estate loans that represents a worst-case pool based on the concentration limits and eligibility requirements as defined in the Trust Indenture. The current rating for each class of notes remains appropriate; however, DBRS has placed each class of notes Under Review with Developing Implications, as it is expected that the facility may be further extended in the near term and, in the event the underlying Indenture or concentration limits and eligibility requirements were to be amended in conjunction with an extension of the facility, DBRS would review each document and the respective changes, and incorporate as necessary in the ratings analysis.

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

The applicable methodologies are CMBS Rating Methodology and CMBS North American Surveillance Methodology, which can be found on our website under Methodologies.

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

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.