Morningstar DBRS Discontinues Credit Ratings on Loan Invest NV/SA. Compartment SME Loan Invest 2017 and Loan Invest NV/SA. Compartment SME Loan Invest 2020

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AAA (sf) and AA (high) (sf) credit ratings on the Notes issued by Loan Invest NV/SA. Compartment SME Loan Invest 2017 (Loan Invest 2017), and Loan Invest NV/SA. Compartment SME Loan Invest 2020 (Loan Invest 2020), respectively.

The discontinuation reflects the full repayment of the Notes in both transactions on the 17 March 2024 payment date. Prior to their repayment in full, the outstanding principal balances of the respective Notes were as follows:

Loan Invest 2017: EUR 393,411,043.20
Loan Invest 2020: EUR 1,374,605,400.00

The principal methodology applicable to the credit ratings is "Master European Structured Finance Surveillance Methodology" (4 February 2025) https://dbrs.morningstar.com/research/447080.

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/448508 (Loan Invest 2017) and https://dbrs.morningstar.com/research/434962 (Loan Invest 2020).

The lead analyst responsibilities for both transactions have been transferred to Alice Comastri.

Lead Analyst: Alice Comastri, Senior Analyst
Rating Committee Chair: Mark Wilder, Senior Vice President
Initial Rating Dates:
Loan Invest 2017: 7 April 2017
Loan Invest 2020: 15 July 2020

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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 https://dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.