DBRS Confirms Ratings on PFS Financing Corp. Series 2011-A Notes

DBRS, Inc. (DBRS) has today confirmed the R-1 (high) (sf) rating on the Series 2011-A Notes. The confirmation is based on a re view of the Series 2015-A Preliminary Offering Memorandum, the Series 2015-A Supplement to the Base Indenture, the Omnibus Notice, Consent and Waiver as well as the extension of the Backup Servicing Agreement.

The rating addresses the timely payment of interest and the ultimate payment of principal by the legal final distribution dates on the above-referenced note.

DBRS also reviewed the recent performance of the trust and determined that performance has been in line with expectations.

The underlying collateral for these transactions includes insurance premium finance loans and the repayment thereof.

Notes:
The applicable methodology is Rating U.S. Structured Finance Transactions, 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.