Morningstar DBRS Discontinues and Withdraws Provisional Credit Ratings on RecFi Receivables Trust 2026-1

DBRS, Inc. (DBRS Morningstar) discontinued its provisional credit ratings on the Class A Notes and Class B Notes that were issued by RecFi Receivables Trust 2026-1. DBRS Morningstar elected to withdraw the provisional ratings as this transaction is not expected to close in the immediate future.

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE CONSIDERATIONS

There were no Environmental/Social/Governance factor(s) that had a significant or relevant effect on the credit analysis.

A description of how Morningstar DBRS considers ESG factors within the Morningstar DBRS analytical framework can be found in the Morningstar DBRS Criteria: Approach to Environmental, Social, and Governance Factors in Credit Ratings (May 16, 2025) https://dbrs.morningstar.com/research/454196.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodology applicable to the credit ratings is Rating North American Auto Retail Loan and Lease Transactions (September 30, 2025) https://dbrs.morningstar.com/research/463845.

Other methodologies referenced in this transaction are listed at the end of this press release.

The credit rating was initiated at the request of the rated entity.

The rated entity or its related entities did participate in the credit rating process for this credit rating action.

Morningstar DBRS had access to the accounts, management and other relevant internal documents of the rated entity or its related entities in connection with this credit rating action.

This is a solicited credit rating.

For more information on Morningstar DBRS' policy regarding the solicitation status of credit ratings, please refer to the Credit Ratings Global Policy, which can be found in the Morningstar DBRS Understanding Ratings section of the website: https://dbrs.morningstar.com/understanding-ratings

Please see the related appendix for additional information regarding the sensitivity of assumptions used in the credit rating process.

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The credit rating methodologies used in the analysis of this transaction can be found at:
https://dbrs.morningstar.com/about/methodologies.

Rating U.S. Structured Finance Transactions (March 13, 2026),
https://dbrs.morningstar.com/research/476198

Operational Risk Assessment for U.S. ABS Originators and Servicers (March 23, 2026),
https://dbrs.morningstar.com/research/477057

Legal Criteria for U.S. Structured Finance (November 25, 2025)
https://dbrs.morningstar.com/research/468115

For more information on this credit or on this industry, visit dbrs.morningstar.com or contact us at [email protected].