DBRS Morningstar Discontinues Rating on Liquidity Agreement – SL3 Within GIFS Capital Company, LLC

DBRS, Inc. (DBRS Morningstar) discontinued its rating of AAA (sf) on the Liquidity Agreement – SL3 within GIFS Capital Company, LLC. The rating addressed the timely distribution of scheduled monthly interest payments and the ultimate distribution of principal in accordance with the transaction documents.

The rating action reflects full and timely repayment of interest and principal.

The sources of information used for this rating include parties involved in the transaction including, but not limited to, Credit Suisse AG (rated “A” with a Stable trend by DBRS Morningstar).

Notes:
The principal methodology is Rating and Monitoring Asset-Backed Commercial Paper: U.S. ABCP Conduits, which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

The rated entity or its related entities did 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 www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

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