DBRS Confirms Ratings on U.S. ABS Transactions

DBRS, Inc. (DBRS) confirmed the rating of 34 securities issued by 17 U.S. asset-backed security (ABS) transactions. Performance for the securities is such that credit enhancement levels are sufficient to cover DBRS’s loss expectations at their respective rating levels.

The transactions reviewed were:
-- J.G. Wentworth XXIII LLC Fixed Rate Asset-Backed Notes, Series 2011-1
-- JGWPT XXIV LLC Fixed Rate Asset-Backed Notes, Series 2011-2
-- JGWPT XXV LLC Fixed Rate Asset-Backed Notes, Series 2012-1
-- JGWPT XXVI LLC Fixed Rate Asset-Backed Notes, Series 2012-2
-- JGWPT XXVII LLC Fixed Rate Asset-Backed Notes, Series 2012-3
-- JGWPT XXVIII LLC Fixed Rate Asset-Backed Notes, Series 2013-1
-- JGWPT XXIX LLC Fixed Rate Asset-Backed Notes, Series 2013-2
-- JGWPT XXX LLC Fixed Rate Asset-Backed Notes, Series 2013-3
-- JGWPT XXXI LLC Fixed Rate Asset-Backed Notes, Series 2014-1
-- JGWPT XXXII LLC Fixed Rate Asset-Backed Notes, Series 2014-2
-- J.G. Wentworth XXXIII LLC Fixed Rate Asset-Backed Notes, Series 2014-3
-- J.G. Wentworth XXXIV LLC Fixed Rate Asset-Backed Notes, Series 2015-1
-- J.G. Wentworth XXXV LLC Fixed Rate Asset-Backed Notes, Series 2015-2
-- J.G. Wentworth XXXVI LLC Fixed Rate Asset Backed Notes, Series 2015-3
-- J.G. Wentworth XXXVII LLC Fixed Rate Asset-Backed Notes, Series 2016-1
-- J.G. Wentworth XXXVIII LLC Fixed Rate Asset-Backed Notes, Series 2017-1
-- J.G. Wentworth XXXIX LLC Fixed Rate Asset-Backed Notes, Series 2017-2

The ratings are based on DBRS’s review of the following analytical considerations:

-- Amendments made to the transaction.
-- 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 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 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.