Morningstar DBRS Discontinues Credit Rating on Alhambra SME Funding 2019-1 DAC

DBRS Ratings GmbH (Morningstar DBRS) discontinued its CCC (sf) credit rating on the Class C Notes issued by Alhambra SME Funding 2019-1 DAC.

The discontinuation reflects the full repayment of the Class C Notes on the 31 July 2024 payment date. Prior to its full repayment, the outstanding principal balance of the Class C Notes was EUR 210,138.98.

The principal methodology applicable to the credit rating is: Global Methodology for Rating CLOs and Corporate CDOs (23 February 2024), https://dbrs.morningstar.com/research/428544.

In Morningstar DBRS' opinion, a Discontinued-Repaid credit rating action does not warrant the application of the entire principal methodology.

For details on analytical and regulatory disclosures please refer to the latest rating action press release published for this transaction: https://dbrs.morningstar.com/research/420913.

Lead Analyst: Baran Cetin, Senior Analyst
Rating Committee Chair: Carlos Silva, Senior Vice President
Initial Rating Date: 29 October 2019

DBRS Ratings GmbH
Neue Mainzer Straße 75
60311 Frankfurt am Main Deutschland
Tel. +49 (69) 8088 3500
Geschäftsführer: Detlef Scholz
Amtsgericht Frankfurt am Main, HRB 110259

A description of how Morningstar DBRS analyses structured finance transactions and how the methodologies are collectively applied can be found at: https://dbrs.morningstar.com/research/278375.

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