ARM Master Trust, LLC, Series 2022-T1: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to Series 2022-T1 Agricultural Crop Loan Backed Notes (Notes) issued by ARM Master Trust, LLC. The Notes to be issued are backed by a pool of agricultural production loans originated by Agrifund, LLC to provide crop production lending and crop insurance brokerage services to U.S. farmers who seek financing to cover seasonal working capital needs to purchase farm supplies and manage farming operations for growing crops during the respective harvest seasons. Farmers typically repay the loans through crop sale proceeds, crop insurance payments, and occasionally through government subsidies.