DBRS Morningstar Confirms BBB (low) (sf) Rating on NL LP’s 2015-A Class B Note

DBRS Limited (DBRS Morningstar) confirmed the following rating on the 2015-A Class B Note (the Note) issued by NL LP:

-- 2015-A Class B Note rated BBB (low) (sf)

The Note is supported by a portfolio of receivables secured by small and midticket equipment. The rating was assigned at the request of the owner of the Note for regulatory purposes and is subordinated to the Class A Notes.

Notes:
The principal methodology is Master Canadian Structured Finance 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 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.

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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