Oasis 2020-1 LLC: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional rating on Oasis 2020-1 LLC (the Issuer or Oasis 2020-1). Oasis 2020-1 is the first asset-backed securities (ABS) transaction sponsored by Oasis Intermediate Holdco, LLC (Oasis or the Company). Oasis 2020-1 consists of a single class of notes (the Notes) and is supported by a pool of litigation funding receivables, litigation loan receivables, and medical receivables originated by Oasis and its affiliates. The receivables were created in connection with advances or loans made to plaintiffs (obligors or consumers) and medical providers with pending claims. Once a claim is resolved through settlement or judgement, payment is made to Oasis through a priority of payments, handled by the case attorney, which includes payments required to be made to other parties (e.g., attorney and medical service providers (MSPs)). In the case of an unsuccessful claim, no proceeds are received; as a result, the plaintiff is generally not obligated to make any repayment in respect of the advance.