Moody’s Upgrades Dell Equipment Backed ABS From 2015 and 2016



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)


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