Moody’s Investors Service upgraded four and affirmed eight securities from Dell Equipment Finance Trust transactions issued in 2015 and 2016. The transactions are securitizations of small-ticket equipment leases serviced by Dell Financial Services. Approximately $907.8 million of asset-backed securities were affected.
Complete rating actions are as follows:
Issuer: Dell Equipment Finance Trust 2015-1
- Class B Notes, Affirmed Aaa (sf); previously on May 5, 2017 Affirmed Aaa (sf)
- Class C Notes, Affirmed Aaa (sf); previously on May 5, 2017 Affirmed Aaa (sf)
- Class D Notes, Upgraded to Aaa (sf); previously on May 5, 2017 Upgraded to Aa2 (sf)
Issuer: Dell Equipment Finance Trust 2015-2
- Class A-3 Fixed Rate Notes, Affirmed Aaa (sf); previously on May 5, 2017 Affirmed Aaa (sf)
- Class B Fixed Rate Notes, Affirmed Aaa (sf); previously on May 5, 2017 Affirmed Aaa (sf)
- Class C Fixed Rate Notes, Affirmed Aaa (sf); previously on May 5, 2017 Upgraded to Aaa (sf)
- Class D Fixed Rate Notes, Upgraded to Aa1 (sf); previously on May 5, 2017 Upgraded to Aa3 (sf)
Issuer: Dell Equipment Finance Trust 2016-1
- Class A-2 Asset Backed Notes, Affirmed Aaa (sf); previously on May 5, 2017 Affirmed Aaa (sf)
- Class A-3 Asset Backed Notes, Affirmed Aaa (sf); previously on May 5, 2017 Affirmed Aaa (sf)
- Class B Asset Backed Notes, Affirmed Aaa (sf); previously on May 5, 2017 Affirmed Aaa (sf)
- Class C Asset Backed Notes, Upgraded to Aaa (sf); previously on May 5, 2017 Upgraded to Aa1 (sf)
- Class D Asset Backed Notes, Upgraded to A1 (sf); previously on May 5, 2017 Upgraded to A2 (sf)