DBRS Upgrades and Confirms Earnest Student Loan Program 2016-A LLC

DBRS, Inc. (DBRS) has today upgraded the Class A-1 Notes and Class A-2 Notes issued by Earnest Student Loan Program 2016-A LLC to A (high) (sf) from A (sf) and confirmed the Class B Notes at BBB (sf). The rating actions are based on the Class A-1, A-2 and B Notes’ current credit enhancement levels, which 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 principal methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com 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 the attached appendix for additional information regarding the 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.