By: Fitch Ratings on November 4th, 2020
Fitch Takes Various Actions on Four GreatAmerica Leasing Receivables Funding Transactions
Fitch Ratings - New York - 23 Sep 2020: Fitch Ratings has taken various rating actions on GreatAmerica Leasing Receivables Funding L.L.C., Series 2017-1, 2018-1, 2019-1 and 2020-1.
The market disruption caused by the coronavirus and related containment measures did not negatively affect the ratings because there is sufficient credit enhancement (CE) to cover higher projected cumulative net losses (CNL) after more severe assumptions, particularly in light of recent deferral experience, were applied. The sensitivity of the ratings to scenarios more severe than currently expected is provided in the Rating Sensitivities. (link)