DBRS Confirms Chesapeake Funding II LLC

DBRS, Inc. (DBRS) confirmed the outstanding public ratings of 27 securities issued by seven series of the Chesapeake Funding II LLC U.S. asset-backed security trust. The confirmations are based on credit enhancement levels being sufficient to cover DBRS’s expected losses at their current respective rating levels.

The following transactions were reviewed:
-- Chesapeake Funding II LLC, Series 2015-2
-- Chesapeake Funding II LLC, Series 2016-1
-- Chesapeake Funding II LLC, Series 2016-2
-- Chesapeake Funding II LLC, Series 2017-1
-- Chesapeake Funding II LLC, Series 2017-2
-- Chesapeake Funding II LLC, Series 2017-3
-- Chesapeake Funding II LLC, Series 2017-4

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:
The principal methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

Please see the related 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.