KBRA Assigns Preliminary Ratings to OWN Equipment Fund II LLC

NEW YORK–(BUSINESS WIRE)–

The transaction is secured by the equipment owned by the Issuer. EQS manages the Issuer’s equipment and has also entered into a lease with the Issuer. Under this lease, EQS pays the Issuer a variable lease payment equal to the rent billed by EQS to its customers for rental of the equipment, net of certain fees and expenses owed to EQS as Equipment Manager. The lease payments are the initial source of funds for payments to the noteholders.

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Click here to view the report.

Related Publications

• Crockett Partners Equipment Company IIA LLC New Issue Report
• OWN Equipment Fund I LLC New Issue Report

Methodologies

• ABS: General Global Rating Methodology for Asset Backed Securities
• Structured Finance: Global Structured Finance Counterparty Methodology
• ESG Global Rating Methodology

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1009900

Contacts

Analytical Contacts

Kenneth Martens, Managing Director (Lead Analyst)

+1 646-731-3373

[email protected]

Edward Napoli, Director

+1 646-731-1284

[email protected]

Zachary Lee, Senior Analyst

+1 646-731-1252

[email protected]

Joanne DeSimone, Managing Director, ABS Commercial (Rating Committee Chair)

+1 646-731-2306

[email protected]

Business Development Contact

Arielle Smelkinson, Senior Director

+1 646-731-2369

[email protected]