DBRS Confirms and Discontinues Ratings on Liquidity Agreements Supporting Pool Number 235 within Old Line Funding, LLC

DBRS, Inc. (DBRS) confirmed and subsequently withdrew the following ratings to the Liquidity Asset Purchase Agreements, dated as of March 10, 2016, by and among Old Line Funding, LLC, a Delaware limited liability company, as Issuer and the Royal Bank of Canada (rated AA with Positive trend by DBRS) as Purchaser and Liquidity Agent:

-- Liquidity Agreement Supporting Pool Number 235A at AAA (sf)
-- Liquidity Agreement Supporting Pool Number 235B at AA (sf)
-- Liquidity Agreement Supporting Pool Number 235C at AA (sf)
-- Liquidity Agreement Supporting Pool Number 235E at AA (sf)
-- Liquidity Agreement Supporting Pool Number 235F at A (sf)

The ratings were 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 methodologies are DBRS Master U.S. ABS Surveillance Methodology and Asset-Backed Commercial Paper Criteria Report: U.S. ABCP Conduits, which can be found on dbrs.com under Methodologies & Criteria.

This rating was initiated at the request of the rated entity.

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

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

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