DBRS Morningstar Takes Rating Actions on SoFi Consumer Transactions

DBRS, Inc. (DBRS Morningstar) reviewed 48 outstanding ratings from 16 SoFi Consumer transactions. Of the 48 outstanding publicly rated classes reviewed, 27 were confirmed, 17 were upgraded, and four were discontinued due to repayment. For the ratings that were confirmed, performance trends are such that credit enhancement levels are sufficient to cover DBRS Morningstar’s expected losses at their current respective rating levels. For the ratings that were upgraded, performance trends are such that credit enhancement levels are sufficient to cover DBRS Morningstar’s expected losses at their new respective rating levels.

The ratings are based on DBRS Morningstar’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.
--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 not participate in the rating process for this rating action. DBRS Morningstar 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 related appendix for additional information regarding sensitivity of assumptions used in the rating process.
For more information on this credit or on this industry, visit https://www.dbrs.com or contact us at [email protected]

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