DBRS Morningstar upgraded notes issued by Commercial Equipment Finance 2021-A, the securitization affiliate of Commercial Equipment Finance (CEFI), as follows:

• Class A Notes upgraded to AAA (sf) from AA (high) (sf)
• Class B Notes upgraded to AA (high) (sf) from A (high) (sf)
• Class C Notes upgraded to A (sf) from BBB (sf)
• Class D Notes upgraded to BBB (low) (sf) from BB (low) (sf)

“The upgrades validate the continued strong performance of CEFI’s first securitization,” Ricardo Rios, CEO and president of CEFI, said. “We are thankful for the confidence of DBRS and the support of our investors, customers and other partners who have contributed to CEFI’s growth and success since its inception in 2009.”

The notes were issued during November 2021. KeyBanc Capital Markets acted as the initial purchaser and sole structuring agent. CEFI was advised by Quadrant Financial Group.