Morningstar DBRS Discontinues Credit Rating on Asset-Backed European Securitisation Transaction Twenty, Fondo de Titulización

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AAA (sf) credit rating on the Class B Notes issued by Asset-Backed European Securitisation Transaction Twenty, Fondo de Titulización.

The discontinuation reflects the full repayment of the Class B Notes following the early liquidation on the 24 March 2025 payment date. Prior to their repayment in full, the outstanding principal balance of the Class B Notes was EUR 12,154,133.55.

The principal methodology applicable to the credit rating is Master European Structured Finance Surveillance Methodology (04 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/441639.

Lead Analyst: Helvia Meana Ramon, Assistant Vice President
Rating Committee Chair: Mark Wilder, Senior Vice President
Initial Rating Date: 23 September 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.