Asset-Backed European Securitisation Transaction Eighteen S.r.l.: Rating Report
On 11 November 2020, DBRS Ratings GmbH (DBRS Morningstar) assigned the following ratings to the notes issued by Asset-Backed European Securitisation Transaction Eighteen S.r.l. (the Issuer or A-BEST 18 S.r.l.):-- Class A Notes at AA (sf)
-- Class B Notes at A (high) (sf)
-- Class C Notes at BBB (high) (sf)
The rating of the Class A Notes addresses the timely payment of scheduled interest and the ultimate repayment of principal by the final legal maturity date. The ratings of the Class B and Class C notes address the ultimate payment of interest and ultimate repayment of principal by the final legal maturity date while junior to other outstanding classes of notes but the timely payment of scheduled interest when they are the senior-most tranche. DBRS Morningstar does not rate the Class M Notes issued in this transaction.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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