DBRS Confirms Ratings of A10 Permanent Asset Financing 2015-I, LLC

DBRS, Inc. (DBRS) has today confirmed the ratings on the following Notes (the Notes) issued by A10 Permanent Asset Financing 2015-I, LLC:

-- Class A at AAA (sf)
-- Class B at A (low) (sf)
-- Class C at BBB (low) (sf)

All trends are Stable.

To confirm the ratings of the Notes, DBRS used its static CMBS methodology to construct a worst-case pool based on concentration limits and eligibility requirements as defined in the third supplemental trust indenture relating to the minimum subordination requirements, including amendments for each class. In addition, DBRS reviewed the loans contributing to the trust to date. The aforementioned third supplemental indenture contemplates upsizing the transaction to $300.0 million from $200.0 million.

The ratings contemplate timely payments of distributable interest and ultimate payment of principal by the legal final maturity in December 2049.

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

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The principal methodologies are North American CMBS Rating Methodology (January 2017) and CMBS North American Surveillance (December 2016), which can be found on dbrs.com under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.