Morningstar DBRS Discontinues Credit Rating on Multi Lease AS S.r.l. (Multilease 4)

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AAA (sf) credit rating on the Class A Notes issued by Multi Lease AS S.r.l. (Multilease 4).

The discontinuation reflects the full repayment of the Class A Notes on the 26 June 2025 payment date, following the transaction unwinding. Prior to its full repayment, the outstanding principal balance of the Class A Notes was EUR 72,887,892.30.

The principal methodology applicable to the credit rating 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/434658.

The lead analyst responsibilities for this transaction have been transferred to Anna Walkowiak.

Lead Analyst: Anna Walkowiak, Senior Analyst
Rating Committee Chair: Mark Wilder, Senior Vice President
Initial Rating Date: 30 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/439604.

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