Morningstar DBRS Discontinues Credit Rating on FCT Lafayette 2021

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AA (high) (sf) credit rating on the Class A Notes issued by FCT Lafayette 2021.

The discontinuation reflects the full repayment of the Class A Notes following the occurrence of the fund liquidation event on the 19 June 2025 payment date. Prior to its full repayment, the outstanding principal balance of the Class A Notes was EUR 1,851,287,480.00.

The principal methodology applicable to the credit rating is: "Rating CLOs Backed by Loans to European SMEs" (5 June, 2025) https://dbrs.morningstar.com/research/455697.

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/449124.

Lead Analyst: Helvia Meana, Assistant Vice President
Rating Committee Chair: Carlos Silva, Senior Vice President
Initial Rating Date: 26 February 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.