DBRS Confirms and Withdraws Rating on Prime OnDeck Receivables Trust II, LLC
OtherDBRS, Inc. (DBRS) confirmed and withdrew the rating on the Class A Loans issued by the Prime OnDeck Receivables Trust II, LLC (the Issuer) asset-backed security transaction. The performance trends of the Class A Loans are such that credit enhancement levels are sufficient to cover DBRS’s loss expectations at its current rating level. The rating was withdrawn at the request of the Issuer as a result of a refinancing of the facility.
The rating is based on DBRS’s review of the following analytical considerations:
-- Transaction capital structure, current rating 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 & Criteria.
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.
For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.
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