DBRS Confirms and Discontinues Ratings on Trade Receivables Transactions

DBRS, Inc. (DBRS) has today confirmed six ratings on the trade receivables transactions administered by Natixis as follows:

-- FCT IDEX Senior Units rated A (high) (sf)
-- FCT Mercury Class C1 & C2 Units rated A (low) (sf)
-- FCT Point P Class A3 Units rated AA (sf)
-- FCT Point P Class B3 Units rated AA (sf)
-- FCT Tresobat Class B Senior Units rated A (sf)
-- FCT Triple P Class M Units rated A (low) (sf)

DBRS has also confirmed one rating on a trade receivable transaction administered by Barclays Bank PLC (Barclays) as follows:

-- FCT Triple P Class S Units rated A (low) (sf)

The ratings address the timely payments of interest and the ultimate payments of principal. The confirmations of the ratings reflect the ongoing performance of the trade receivables transactions. DBRS has also discontinued the rating of A (high) (sf) on the Class A2 Units issued by FCT Arkemtic. The discontinuation of the Class A2 Units rating reflects the full repayment of the notes.

The sources of information used for this rating comprise parties involved in the rating, including but not limited to FCT Arkemtic, FCT IDEX, FCT Mercury, FCT Point P, FCT Tresobat, FCT Triple P and Natixis and Barclays. DBRS considers the information available to it for the purposes of providing this rating to be satisfactory.

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

The principal methodology is Trade Receivables, which can be found on our website under Methodologies.

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