Morningstar DBRS Discontinues Credit Rating on Secucor Finance 2021-1 DAC

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AA (sf) credit rating on the Class A Notes issued by Secucor Finance 2021-1 DAC.

The discontinuation reflects the full repayment of the Class A Notes on the 13 September 2024 payment date. Prior to the full repayment, the outstanding principal balance of the Class A Notes was EUR 310,460,326.02.

The principal methodology applicable to the credit rating is Master European Structured Finance Surveillance Methodology (6 August 2024) https://dbrs.morningstar.com/research/437540.

In Morningstar DBRS' opinion, a Discontinued-Repaid credit rating action does not warrant the application of the entire principal methodology.

For details on analytical and regulatory disclosures please refer to the latest credit rating action press release published for this transaction: https://dbrs.morningstar.com/research/429388.

Lead Analyst: Pascale Kallas, Assistant Vice President
Rating Committee Chair: Alfonso Candelas, Associate Managing Director
Initial Rating Date:15 July 2021

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A description of how Morningstar DBRS analyses structured finance transactions and how the methodologies are collectively applied can be found at: https://dbrs.morningstar.com/research/278375.

For more information on this credit or on this industry, visit https://dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.