DBRS Discontinues Rating on Aggregator of Loans Backed by Assets (ALBA) 2012-1 Plc

DBRS Ratings Limited (DBRS) has today discontinued its rating on the Class A notes issued by Aggregator of Loans Backed by Assets 2012-1 Plc (the Issuer).

The rating action reflects the payment in full of the Class A notes as of the payment date on 18 March 2016. The remaining balance of the Class A notes before their payment in full was £113,995,942.81, and the rating was AAA (sf).

Notes:
All figures are in British pounds unless otherwise noted.

The principal methodology applicable is the “Master European Structured Finance Surveillance Methodology”. This rating action is derived from an acknowledgement of fact, and DBRS conducted no analysis.

This may be found on www.dbrs.com at
http://www.dbrs.com/about/methodologies.

For a more detailed discussion of the sovereign risk impact on Structured Finance ratings, please refer to the DBRS commentary “The Effect of Sovereign Risk on Securitisations in the Euro Area” found at http://www.dbrs.com/industries/bucket/id/10036/name/commentaries.

The sources of information used for this rating include reports provided by Citibank N.A. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

DBRS does not rely upon third-party due diligence in order to conduct its analysis; DBRS was not supplied with third-party assessments; however, this did not impact the rating analysis.

DBRS does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance.

The last rating action on this transaction took place on 22 April 2015, when DBRS confirmed the Class A notes at AAA (sf). The lead responsibilities for this transaction have been transferred to Andrew Lynch.

Information regarding DBRS ratings, including definitions, policies and methodologies, is available at www.dbrs.com.

For further information on DBRS historic default rates published by the European Securities and Markets Administration in a central repository, see
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Ratings assigned by DBRS Ratings Limited are subject to EU regulations only.

Initial Lead Analyst: Alastair Bigley
Initial Rating Date: 12 March 2012
Initial Rating Committee Chair: Claire Mezzanotte

Lead Surveillance Analyst: Andrew Lynch

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A description of how DBRS analyses structured finance transactions and how the methodologies are collectively applied can be found at: http://www.dbrs.com/research/278375.