Asset-Backed European Securitisation Transaction Eighteen S.r.l.: Rating Report

On 11 November 2020, DBRS Ratings GmbH (DBRS Morningstar) assigned the following ratings to the notes issued by Asset-Backed European Securitisation Transaction Eighteen S.r.l. (the Issuer or A-BEST 18 S.r.l.):

-- Class A Notes at AA (sf)
-- Class B Notes at A (high) (sf)
-- Class C Notes at BBB (high) (sf)

The rating of the Class A Notes addresses the timely payment of scheduled interest and the ultimate repayment of principal by the final legal maturity date. The ratings of the Class B and Class C notes address the ultimate payment of interest and ultimate repayment of principal by the final legal maturity date while junior to other outstanding classes of notes but the timely payment of scheduled interest when they are the senior-most tranche. DBRS Morningstar does not rate the Class M Notes issued in this transaction.