Credit Rating Report

Renew 2021-1: Rating Report

Property Assessed Clean Energy (PACE)

Summary

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings of AAA (sf) on the Class A Notes, AA (sf) on the Class M Notes, and BBB (sf) on the Class B Notes (collectively, the Notes) to be issued by Renew 2021-1 (the Transaction). The Transaction represents the eighth overall securitization secured by Renew Financial Group LLC-originated Property-Assessed Clean Energy assets since 2015.

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