DBRS Confirms All Ratings of 1st Financial Credit Card Master Note Trust III, Series 2013-II and Series 2015-I
Consumer Loans & Credit CardsDBRS, Inc. (DBRS) has today conducted a review of two publicly rated U.S. structured finance asset-backed securities with eight outstanding publicly rated classes. The eight publicly rated classes reviewed were confirmed as credit enhancement levels are sufficient to cover DBRS’s expected losses at their current respective rating levels.
The ratings are based on DBRS’s review of the following analytical considerations:
-- Transaction capital structure, proposed ratings and form and sufficiency of available credit enhancement.
-- The transaction parties’ capabilities with regard to origination, underwriting and servicing.
-- The credit quality of the collateral pool and historical performance.
Notes:
The applicable methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website under Methodologies.
The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.
Please see attached appendix for additional information regarding sensitivity of assumptions used in the rating process.
For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.
Ratings
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