Morningstar DBRS Discontinues Credit Ratings on Sunrise SPV Z80 S.r.l. - Sunrise 2019-2
Consumer Loans & Credit CardsDBRS Ratings GmbH (Morningstar DBRS) discontinued its credit ratings on the Class D Notes and Class E Notes, (together, the Rated Notes) issued by Sunrise SPV Z80 S.r.l. - Sunrise 2019-2.
The discontinuation reflects the full repayment of the Rated Notes on the 27 June 2025 payment date, following the transaction unwinding. Prior to their repayment in full, the credit ratings and the outstanding principal balances of the Rated Notes were as follows:
-- Class D Notes rated AAA (sf); EUR 9,453,481.41
-- Class E Notes rated AA (high) (sf); EUR 42,300,000.00
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/439467.
Lead Analyst: Helvia Meana, Assistant Vice President
Rating Committee Chair: Mark Wilder, Senior Vice President
Initial Rating Date: 15 October 2019
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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.