DBRS Confirms Ratings of AT&T Receivables Funding, LLC – March 30, 2017, Investment

DBRS, Inc. (DBRS) confirmed the ratings of the AT&T Receivables Funding, LLC – March 30, 2017, Investment. Performance trends for the confirmed security are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The transaction reviewed was:

-- AT&T Receivables Funding, LLC – March 30, 2017, Investment

The rating is 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:
The principal methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com 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.

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