DBRS Confirms Rating of PDRIVE LLC

DBRS, Inc. (DBRS) confirmed the rating of AAA (sf) on the Facility issued by PDRIVE LLC (the Issuer). The confirmation is a result of credit enhancement levels being sufficient to cover expected losses at DBRS’s current rating level.

The Issuer’s rating is 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.

Notes:
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 initially in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.