Credit Rating Report

VCL Master S.A., acting through its Compartment 1: Rating Report

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Summary

DBRS Ratings Limited (DBRS) assigned new ratings to VCL Master S.A., acting on behalf of its Compartment 1 (the Issuer) as follows:

-- Series 2017-2, Class A Notes at AAA (sf)
-- Series 2017-3, Class A Notes at AAA (sf)

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