DBRS Finalizes Provisional Ratings on DRB Prime Student Loan Trust 2015-D

DBRS, Inc. (DBRS) has today finalized its provisional ratings of AA (low) (sf) on the Class A Notes issued by DRB Prime Student Loan Trust 2015-D (DRB).

The finalized ratings are based on DBRS’s review of the following analytical considerations:

-- The transaction’s form and sufficiency of available credit enhancement.
-- The quality and credit characteristics of the student loan borrowers.
-- Structural features of the transaction that require the Class A Notes to enter into full turbo principal amortization if certain performance triggers are breached.
-- DRB’s origination and underwriting capabilities.
-- The ability of the Initial Servicer, Initial Backup Servicer and Successor Servicer to perform collections on the collateral pool and other required activities.
-- The benefits offered by the existence of the “hot” Initial Backup Servicer.
-- The legal structure and legal opinions that address the true sale of the student loans, the non-consolidation of the trust, and that the trust has a valid first-priority security interest in the assets and the consistency with the DBRS “Legal Criteria for U.S. Structured Finance” methodology.

Notes:
These ratings are endorsed by DBRS Ratings Limited for use in the European Union.

The applicable methodology is Rating U.S. Private Student Loan Securitizations, which can be found on our website under Methodologies.