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KBRA Affirms Ratings on ServiceMaster Funding LLC & ServiceMaster of Canada Limited

19 Aug 2024   |   New York

Contacts

KBRA affirms its ratings on five classes of notes (the Notes or Class A Notes) from ServiceMaster Funding LLC (the Issuer) and ServiceMaster of Canada Limited (the Canadian Co-Issuer, and together with the Issuer, the Co-Issuers), a whole business securitization (WBS). KBRA’s analysis indicated that existing credit enhancement for the Notes is sufficient to support the affirmed ratings. The data used for this review is as of the June 2024 reporting period (July 2024 payment date). To date, the securities have received timely interest payments and scheduled principal payments, if applicable.

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For additional information regarding a specific transaction, see the list below to access ratings, reports, and disclosures:

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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) is a full-service credit rating agency 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 by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

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