DBRS Confirms and Withdraws Ratings of Hana Financial SPV I, LLC

DBRS, Inc. (DBRS) confirmed and withdrew all outstanding classes of Factoring Contract Backed Notes issued by Hana Financial SPV I, LLC. Performance trends relating to the securities that were confirmed and withdrawn were such that credit enhancement levels were sufficient to cover DBRS’s expected losses at their respective rating levels. The ratings were withdrawn at the request of the Issuer as a result of a refinancing of the facility.

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.
-- The credit quality of the collateral pool and historical performance.

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

The principal methodology is 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 the attached appendix for additional information regarding the 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.