DBRS Confirms Ratings on Liquidity Agreements Supporting Transactions within GIFS Capital Company, LLC

DBRS, Inc. (DBRS) has today confirmed its ratings on the following liquidity instruments, pursuant to the Liquidity Agreements supporting GIFS Capital Company, LLC:

-- GIFS Capital Company, LLC – CRN at A (sf)
-- GIFS Capital Company, LLC – SL3 at AAA (sf)

The ratings address the timely distribution of scheduled monthly interest payments and the ultimate distribution of principal in accordance with the transaction documents.

Notes:
The applicable methodologies are Asset-Backed Commercial Paper Criteria Report: U.S. ABCP Conduits and 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.
This rating is endorsed by DBRS Ratings Limited for use in the European Union.