DBRS Releases Rating Reports on DRB Prime Student Loan Trust 2015-B and DRB Prime Student Loan Trust 2015-C

DBRS, Inc. (DBRS) has today published its rating reports for DRB Prime Student Loan Trust 2015-B and DRB Prime Student Loan Trust 2015-C, which both closed on September 28, 2015.
The DBRS finalized ratings are based upon a review of the following considerations for each transaction:

-- Form and sufficiency of available credit enhancement.
(1) Overcollateralization, a reserve account and excess spread create credit enhancement levels that are commensurate with the final ratings for the Notes.
(2) Transaction cash flows are sufficient to repay investors under each stress scenario in accordance with the terms of the transaction documents.
-- The quality and credit characteristics of the student loan borrowers.
-- Structural features that require the Notes to enter into full turbo principal amortization if certain performance triggers are breached.
-- DRB’s origination and underwriting capabilities.
-- The ability of the Servicer and the Backup Servicer to perform collections on the collateral pool and other required activities.
-- The benefits offered by the existence of the hot Backup Servicer.
-- The legal structure and legal opinions that address the true sale of the student loans, the non-consolidation of the trust, 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:
The applicable methodology is Rating U.S. Private Student Loan Securitizations, which can be found on our website under Methodologies.

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

The full report providing additional analytical detail is available by clicking on the link below or by contacting us at info@dbrs.com.