DBRS Confirms Commercial Paper Ratings of Versailles Assets LLC and Versailles Commercial Paper LLC

DBRS, Inc. (DBRS) confirmed the ratings of R-1 (middle) (sf) on the 4(2) Commercial Paper notes issued by Versailles Assets LLC (Versailles Assets) and Versailles Commercial Paper LLC (Versailles CP), sponsored by Natixis Financial Products Inc. (Natixis).

The ratings are based upon review of Versailles Assets and Versailles CP both individually and as structures that are interrelated. Taken as a whole, DBRS reviewed the asset and liability structures, the transaction portfolios, liquidity support and the Program Wide Credit Enhancement, among other information, in order to confirm the comprehensive risk profiles.

The sources of information used for this rating include parties involved in the rating, including, but not limited to, Versailles Assets, Versailles CP and Natixis. DBRS considers the information available to it for the purposes of providing this rating to be satisfactory.

Notes:
These ratings are endorsed by DBRS Ratings Limited for use in the European Union.

The principal methodology is Rating and Monitoring Asset-Backed Commercial Paper: U.S. ABCP Conduits, which can be found on our website under Methodologies.

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