DBRS Places Domain Media LLC Under Review with Negative Implications

DBRS, Inc. (DBRS) has today placed Under Review with Negative Implications the outstanding ratings of the Series A and Series B Senior Secured Delayed Draw Notes issued by Domain Media LLC, as a result of the breach of a trigger that could give rise to an Event of Default. The sole investor has sent notice that such an event has occurred, but it has not declared an Event of Default and is preserving its right to declare an Event of Default in the future. The effects of the various actions the investor may pursue could have a significant impact on the transaction’s future performance.

The ratings are based on DBRS’s review of the following analytical considerations:
-- Transaction capital structure, ratings and form and sufficiency of available credit enhancement.
-- The transaction parties’ capabilities with regard to servicing.
-- The credit quality of the collateral pool and projected performance.

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.

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