DBRS Confirms Rating on CommonBond Student Loan Trust 2016-A

DBRS, Inc. (DBRS) has today conducted a review of CommonBond Student Loan Trust 2016-A, a publicly rated U.S. structured finance asset-backed security with three outstanding publicly rated classes. DBRS confirmed the ratings on the Class A-1, Class A-2 and Class B Notes 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.
-- Credit quality of the collateral pool and historical performance.

The confirmation of the outstanding rating reflects a Reserve Account of 0.46% and overcollateralization of 7.54%. As of the February 2017 payment date, the cumulative net loss ratio was 0.00% of the original collateral balance.

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

The principal methodology is the 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 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.