SCF Equipment Leasing 2021-1 LLC / SCF Equipment Leasing Canada 2021-1 Limited Partnership – Moody’s

Announcement: Moody’s – North American Equipment Lease and Loan ABS: Percentage of assets with unrated debtors in concentrated and mixed pools Global Credit Research – December 30, 2021 New York, December 30, 2021 – Moody’s Investors Service (“Moody’s”) reviews information available on the collateral underlying ABS leasing and equipment lending transactions in North America that have concentrated or mixed pools (granular pools with a few disproportionately large accounts receivable) to monitor the percentage of assets with unrated debtors in relation to its ratings of such transactions. An obligor is considered unrated if none of the individual measures of credit quality, as described in Moody’s Methodology for Equipment Rentals and Loan Securitizations (the Methodology), are available for that obligor. As explained in the Methodology, Moody’s will not maintain a rating on a transaction if the total percentage of assets with unrated debtors exceeds 25% of the pool’s outstanding balance for 90 consecutive days. summary spreadsheet available on moodys.com at http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBS_1315047. available at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBS_1243607. You can also visit the Rating Methodologies page on www.moodys.com for a copy of this methodology. This post does not advertise any credit rating action. For all credit ratings referenced in this publication, please see the Ratings tab on the Issuer / Entity page at www.moodys.com for the most recent information on credit ratings and rating history. Sandie Zhang Associate Lead Analyst Structured Finance Group Moody’s Investors Service, Inc. 250 Greenwich Street New York, NY 10007 USA JOURNALISTS: 1 212 553 0376 Customer Service: 1 212 553 1653 Oktay Veliev, CFA Senior Vice President / Manager Structured Finance Group JOURNALISTS: 1 212 553 0376 Customer Service: 1 212 553 1653 Releasing Office: Moody’s Investors Service, Inc. 250 Greenwich Street New York, NY 10007 USA JOURNALISTS: 1 212 553 0376 Customer Service: 1 212 553 1653 © 2021 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and / or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved. THE CREDIT RATINGS ISSUED BY MOODY’S CREDIT SUBSIDIARIES ARE THEIR CURRENT OPINIONS ON THE FUTURE CREDIT RISK RELATING TO ENTITIES, CREDIT COMMITMENTS OR DEBTS OR CREDIT SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION ISSUED BY MOODY “PUBLICATIONS” MAY INCLUDE THESE CURRENT OPINIONS. MOODY’S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY WILL FAIL TO MEET ITS FUTURE CONTRACTUAL FINANCIAL OBLIGATIONS AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. SEE MOODY’S RATING SYMBOLS AND APPLICABLE DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS COVERED BY MOODY’S CREDIT RATINGS. CREDIT RATINGS DO NOT COVER ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK OR PRICE VOLATILITY. CREDIT RATINGS, NON-CREDIT RATINGS (“RATINGS”) AND OTHER OPINIONS INCLUDED IN MOODY PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MOODY’S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE CREDIT RISK ESTIMATES AND RELATED OPINIONS OR COMMENTS PUBLISHED BY MOODY’S ANALYTICS, INC. AND / OR ITS AFFILIATES. MOODY’S CREDIT RATINGS, RATINGS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODY’S CREDIT RATINGS, RATINGS, OTHER OPINIONS OR PUBLICATIONS DO NOT AND DO NOT PROVIDE RECOMMENDATIONS FOR THE PURCHASE, SALE OR HOLDING OF PARTS. MOODY’S CREDIT RATINGS, RATINGS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENTS ON THE SUITABILITY OF AN INVESTMENT TO A PARTICULAR INVESTOR. MOODY’S ISSUES ITS CREDIT RATINGS, APPRAISALS AND OTHER OPINIONS AND ISSUES ITS PUBLICATIONS PENDING AND UNDERSTANDING THAT EACH INVESTOR, WITH CARE, WILL CARRY OUT ITS OWN STUDY AND ASSESSMENT OF EACH GUARANTEE WHICH IS CONSIDERABLE FOR PURCHASE OR PURCHASE. CREDIT RATINGS, VALUATIONS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT IS UNINTENTIONAL AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE CREDIT RATINGS, VALUATIONS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT, YOU MUST CONTACT YOUR FINANCIAL ADVISOR OR OTHER PROFESSIONAL ADVISOR. ALL INFORMATION CONTAINED IN THIS DOCUMENT IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO COPYRIGHT LAW, AND ANY OF THIS INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, RECONDITIONED, TRANSFERRED, TRANSMITTED, BROADCAST, REDISTRIBUTED OR SOLD OUT, OR STORED FOR FUTURE USE FOR ANY PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER, BY ANY PERSON WITHOUT MOODY’S PRIOR WRITTEN CONSENT. AND THE PUBLICATIONS ARE NOT INTENDED TO BE USED BY ANY PERSON AS A REFERENCE, AS THIS TERM IS DEFINED FOR REGULATORY PURPOSES AND SHOULD NOT BE USED IN ANY WAY THAT CONSIDERING THEM AS REFERENCE. All the information contained in this document has been obtained by MOODY’S from sources considered by it to be precise and reliable. Due to the possibility of human or mechanical error and other factors, however, all information contained herein is provided “AS IS” without warranty of any kind. MOODY’S takes all necessary measures to ensure that the information it uses to assign a credit rating is of sufficient quality and comes from sources that MOODY’S considers reliable, including, where applicable, independent third-party sources. However, MOODY’S is not an auditor and in all cases cannot independently verify or validate the information received as part of the rating process or the preparation of its Publications. To the extent permitted by law, MOODY’S and its directors, officers, employees, agents, representatives, licensors and Suppliers disclaim all liability to any person or entity for any indirect, special, consequential or accidental loss or damage resulting from or by relationship with the information contained in this document or the use or inability to use such information, even if MOODY’S or any of its directors, officers, employees, agents, representatives, licensors or suppliers are informed in advance of the possibility of such loss or damage, including, but not limited to: (a) any loss of present or potential profits or (b) any loss or damage occurring when the relevant financial instrument fails to not subject to a specific credit rating assigned by MOODY’S. To the extent permitted by law, MOODY’S and its directors, officers, employees, agents, representatives, licensors and suppliers accept no liability for any direct or compensatory loss or damage caused to any person or entity, including, but not limited to be limited thereto, any negligence (but to the exclusion of fraud, willful misconduct or any other type of liability which, for the avoidance of doubt, by law cannot be excluded) on the part of, or any eventuality under or outside the control of MOODY’S or any of its directors, officers, employees, agents, representatives, licensors or suppliers, resulting in NO WARRANTIES, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, THE COMPLETENESS, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF ANY CREDIT RATING, VALUATION, OTHER OPINIONS OR INFORMATION ARE GIVEN OR MANUFACTURED BY MOODY’S IN ANY FORM OR MANNER. ILO. Moody’s Investors Service, Inc., a rating agency wholly owned subsidiary of Moody’s Corporation (“MCO”), hereby discloses that most issuers of debt securities (including corporate and municipal bonds, bonds, notes and commercial paper) and preferred shares rated by Moody’s Investors Service, Inc. have, prior to the assignment of any credit rating, agreed to pay Moody’s Investors Service, Inc. for the credit rating opinions and the services rendered by it cost ranging from $ 1,000 to approximately $ 5,000,000. MCO and Moody’s Investors Service also maintain policies and procedures to ensure the independence of the credit ratings and credit rating processes of Moody’s Investors Service. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities that have credit ratings from Moody’s Investors Service and have also publicly reported to the SEC a stake of more than 5% in MCO, is published annually on www. .moodys.com under the heading “Investor Relations – Corporate Governance – Membership Policy for Directors and Shareholders”. Limited ABN 61 003 399 657AFSL 336969 and / or Moody’s Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (if applicable). This document is intended to be provided only to “wholesale customers” within the meaning of Section 761G of the Corporations Act 2001. By continuing to access this document from Australia, you represent to MOODY’S that you are or are accessing the document as representative of a “wholesale customer” and that neither you nor the entity you represent will directly or indirectly distribute this material or its content to “retail customers” within the meaning of section 761G of the Corporations Act 2001. The MOODY’S credit rating is an opinion as to the creditworthiness of an issuer’s debt security, and not on the issuer’s equity securities or any form of security available to retail investors. Additional Terms for Japan Only: Moody’s Japan KK (“MJKK”) is a credit rating agency subsidiary of Moody’s Group Japan GK, which is 100% owned by Moody’s Overseas Holdings Inc., a 100% subsidiary of MCO. Moody’s SF Japan KK (“MSFJ”) is a wholly owned subsidiary credit rating agency of MJKK. MSFJ is not a nationally recognized statistical rating organization (“NRSRO”). Therefore, the credit ratings assigned by MSFJ are non-NRSRO credit ratings. Non-NRSRO credit ratings are assigned by an entity that is not an NRSRO and, therefore, the rated obligation will not be eligible for certain types of treatment under US law. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. 2 and 3, respectively. MJKK or MSFJ (as applicable) disclosed by the presents that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred shares rated by MJKK or MSFJ (if applicable) have, prior to the assignment of any rating of credit, agreed to pay MJKK or MSFJ (if applicable) for credit rating opinions and services rendered by it, a fee ranging from 125,000 JPY to approximately 550,000,000 JPY. MJKK and MSFJ also maintain policies and procedures to meet Japanese regulatory requirements.

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