DBRS Morningstar Takes Rating Actions on Goal Structured Solutions Trust 2015-1

DBRS, Inc. (DBRS Morningstar) reviewed two classes from one U.S. asset-backed securities (ABS) transaction. Of the two rated classes, DBRS Morningstar confirmed both ratings. The ratings actions reflect performance trends such that credit enhancement levels are sufficient to cover DBRS Morningstar’s expected losses at their current respective rating levels.

The ratings are based on DBRS Morningstar’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.

Please see the attached appendix for additional information regarding the sensitivity of assumptions used in the rating process.

Notes:
The principal methodology is DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com under Methodologies & Criteria.

The rated entity or its related entities did not participate in the rating process for this rating action. DBRS Morningstar 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 https://www.dbrs.com or contact us at info@dbrs.com.

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