DBRS Confirms, Upgrades and Discontinues Ratings of U.S. ABS Transactions

DBRS, Inc. (DBRS) has today conducted a review of six publicly rated U.S. structured finance asset-backed securities transactions that are currently outstanding. Of the 14 securities reviewed, ten were confirmed, three were upgraded and one was discontinued due to repayment in full.

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. For the securities upgraded, performance trends are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their new respective rating levels.

The following public transactions were reviewed:

-- Blue Ridge Funding Trust
-- CAN Capital Funding LLC Series 2014-1
-- Pennsylvania Higher Education Assistance Agency
-- Ascentium Equipment Receivables 2015-1 LLC
-- J.G. Wentworth XXXIV LLC Fixed Rate Asset-Backed Notes, Series 2015-1
-- AT&T Receivables Funding, LLC - March 27, 2015, Investment

Please see the attached appendix for additional information regarding the assumptions used in the rating process and related performance for securities which could impact rating sensitivity.

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.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.