Morningstar DBRS Discontinues Credit Rating on Silver Arrow Merfina 2021-1 S.r.l.

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AAA (sf) credit rating on the Class A Notes issued by Silver Arrow Merfina 2021-1 S.r.l.

The discontinuation reflects the full repayment of the Class A Notes following the exercise of the clean-up call option on the 21 October 2024 payment date. Prior to their repayment in full, the outstanding principal balance of the Class A Notes was EUR 2,599,929.08.

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 rating action press release published for this transaction: https://dbrs.morningstar.com/research/422836.

Lead Analyst: Daniel Rakhamimov, Assistant Vice President
Rating Committee Chair: Alfonso Candelas, Associate Managing Director
Initial Rating Date: 17 November 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/439604.

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