DBRS Upgrades Rating on CommonBond Student Loan Trust 2015-A

DBRS, Inc. (DBRS) has today upgraded the rating on the Class A Notes issued by CommonBond Student Loan Trust 2015-A to AA (low) (sf) from A (high) (sf), following a review of the transaction. The upgrade comes as performance trends are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their new respective rating levels.

The DBRS ratings are based on its 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 the historical performance of the CommonBond, Inc. Portfolio.

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

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 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.