DBRS Confirms LEAF Capital Funding SPE A, LLC Series 2014-A

DBRS, Inc. (DBRS) has today confirmed the ratings of five classes of notes issued by LEAF Capital Funding SPE A, LLC Series 2014-A as follows:

-- Series 2014-A, Class A Notes, rated AAA (sf)
-- Series 2014-A, Class B Notes, rated AA (sf)
-- Series 2014-A, Class C Notes, rated A (sf)
-- Series 2014-A, Class D Notes, rated BBB (sf)
-- Series 2014-A, Class E Notes, rated BBB (low) (sf)

The confirmations are based on performance trends and that credit enhancement levels are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The ratings are based on DBRS’s review of the following analytical considerations:
-- Transaction capital structure, proposed ratings and form and sufficiency of available credit enhancement.
-- The transaction parties’ capabilities with regard to origination, underwriting and servicing.
-- The credit quality of the collateral pool and historical performance.

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

The applicable methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

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

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