Encina Equipment Finance 2021-1: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on the following classes of asset-backed notes (the Notes) issued by Encina Equipment Finance 2021-1, LLC:

-- $108,700,000 Class A-1 Notes at AAA (sf)
-- $88,940,000 Class A-2 Notes at AAA (sf)
-- $13,242,000 Class B Notes at AA (sf)
-- $13,812,000 Class C Notes at A (sf)
-- $21,643,000 Class D Notes at BBB (sf)
-- $12,103,000 Class E Notes at BB (sf)