DBRS Confirms Ratings of Liquidity Instruments Pursuant to Liquidity Agreement - RLF within GIFS Capital Company, LLC

DBRS, Inc. (DBRS) confirmed the following ratings of the Liquidity Instruments pursuant to the Liquidity Agreement – RLF dated as of June 20, 2017, by and among GIFS Capital Company, LLC, a Delaware limited liability company; Credit Suisse AG, Cayman Islands Branch as Liquidity Institution; and Credit Suisse AG, New York Branch as Agent, supporting the transaction Liquidity Agreement – RLF within GIFS Capital Company, LLC:

-- Liquidity Agreement – RLF Class A Loans, rated A (sf)
-- Liquidity Agreement – RLF Class B Loans, rated A (low) (sf)

The transaction is a warehouse for the financing of consumer loan receivables.

These rating confirmations reflect the full and timely repayment of the interest and principal in accordance with the transaction documentation. The ratings assume that the Liquidity Agreement has been invoked, and as such, the liquidity institution is the investor of the notes. The sources of information used for this rating include parties involved in the rating, including, but not limited to, Credit Suisse AG.

Notes:
The principal methodologies are Asset-Backed Commercial Paper Criteria Report: U.S. ABCP Conduits and 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 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.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

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