Press Release

DBRS Takes Rating Actions on DRB Prime Student Loan Trust and Laurel Road Prime Student Loan Trust

Student Loans
April 25, 2019

DBRS, Inc. (DBRS) reviewed 31 outstanding ratings from 19 DRB Prime Student Loan Trust transactions and 12 Laurel Road Prime Student Loan Trust transactions. Of the 31 outstanding publicly rated classes reviewed, two were upgraded, 28 were confirmed and one was discontinued due to repayment. For the upgraded notes, performance trends are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their current rating levels. For the notes that were confirmed, performance trends are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their current rating levels.

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.
-- Credit quality of the collateral pool and historical performance.

Notes:
The principal methodology is DBRS Master U.S. ABS Surveillance Methodology (March 2019), 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.

Please see the 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.

DBRS, Inc.
140 Broadway, 43rd Floor
New York, NY 10005 USA

Ratings

DRB Prime Student Loan Trust 2015-A
DRB Prime Student Loan Trust 2015-B
DRB Prime Student Loan Trust 2015-C
DRB Prime Student Loan Trust 2015-D
DRB Prime Student Loan Trust 2016-A
DRB Prime Student Loan Trust 2016-B
DRB Prime Student Loan Trust 2016-R
Laurel Road Prime Student Loan Trust 2017-B
Laurel Road Prime Student Loan Trust 2017-C
Laurel Road Prime Student Loan Trust 2018-B
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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