DBRS Confirms LEAF Capital Funding SPE B, LLC Transaction

DBRS, Inc. (DBRS) has today confirmed the ratings of A (high) (sf) and BBB (sf), respectively, on the Class A and Class B Notes issued by LEAF Capital Funding SPE B, LLC.

Borrowing base limits are within parameters defined in the transaction documents. Performance of the transaction with respect to default and delinquency levels are within expectations at the time the transaction was rated. The three-month average Delinquency Rate was less than 0.25% and well within trigger thresholds. Similarly, the month average Default Rate was less than 0.50% and well within trigger thresholds for the transaction. Credit enhancement levels of over 11% and 7% for the Class A and Class B tranches, respectively, are strong compared with annualized default activity and are sufficient to cover DBRS’s expected losses at their current respective rating levels. All performance and financial triggers are passing their respective thresholds.

Notes:
The applicable methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website under Methodologies.