PACEfunding 2020-1: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings of AAA (sf) on Class A, Series 2020-1 (the Class A Notes); AA (sf) on Class B, Series 2020-1 (the Class B Notes); and BBB (sf) on Class C, Series 2020-1 (the Class C Notes; together with the Class A Notes and Class B Notes, the Notes) issued by PACEfunding 2020-1 (the Transaction). The Transaction represents the first Rule 144A securitization completed by PACE Funding Group LLC.