Press Release

DBRS Confirms Ratings of U.S. ABS Transactions

Consumer Loans & Credit Cards
May 07, 2015

DBRS, Inc. (DBRS) has conducted a review of 11 publicly rated U.S. structured finance asset-backed securities transactions that are currently outstanding. Of the 38 publicly rated classes reviewed, DBRS has today confirmed 35 and discontinued three due to repayment in full of the notes.

For the ratings that were confirmed, performance trends are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The following public transactions were reviewed:

-- AT&T Receivables Funding, LLC
-- Driver Australia One Trust
-- GCO Education Loan Funding Master Trust-II, Series 2006-2
-- GCO Education Loan Funding Master Trust-II, Series 2007-1
-- Global SC Finance II SRL Fixed Rate Asset Backed Notes, Series 2013-1
-- Global SC Finance II SRL Fixed Rate Asset Backed Notes, Series 2014-1
-- Global SC Finance II SRL Fixed Rate Asset Backed Notes, Series 2013-2
-- Global SC Finance SRL
-- Goal Capital Funding Trust 2007-1
-- SoFi Professional Loan Program 2013-A LLC
-- SoFi Professional Loan Program 2014-A LLC

Notes:
The applicable methodology is the DBRS Master U.S. ABS 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.

Ratings

AT&T Receivables Funding, LLC
Driver Australia One Trust
GCO Education Loan Funding Master Trust-II, Series 2006-2
GCO Education Loan Funding Master Trust-II, Series 2007-1
Global SC Finance II SRL Fixed Rate Asset Backed Notes, Series 2013-1
Global SC Finance II SRL Fixed Rate Asset Backed Notes, Series 2013-2
Global SC Finance II SRL Fixed Rate Asset Backed Notes, Series 2014-1
Global SC Finance SRL
Goal Capital Funding Trust 2007-1
SoFi Professional Loan Program 2013-A LLC
SoFi Professional Loan Program 2014-A LLC
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

Related Documents

Methodology Used:

Issuers

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Contacts

  • Claire Mezzanotte
    Group Managing Director, Global Head of Structured Finance Ratings - Credit Ratings Leadership
    +(1) 212 806 3272
  • Maxim Berger
    Assistant Vice President, US ABS & Surveillance - Global Structured Finance
    +1 212 806 3279
  • Jayce Fox
    Senior Vice President, US ABS Surveillance - Global Structured Finance
    +1 203 883 5815
  • Jan Buckler
    Senior Vice President, Sector Lead - Global Structured Finance Ratings
    +(1) 212 806 3925

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