DBRS Confirms Ratings on U.S. ABS Transactions

DBRS, Inc. (DBRS) has today confirmed 12 ratings from three U.S. structured finance asset-backed securities transactions. The confirmations are based on performance trends and credit enhancement levels that are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The following transactions were reviewed:
-- Chesapeake Funding LLC, Series 2013-1
-- Chesapeake Funding LLC, Series 2014-1
-- Chesapeake Funding LLC, Series 2015-1

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

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.