Moody’s Updates its Rating Methodology for Consumer Credit-Backed ABS

Announcement: Moody’s Updates its Rating Methodology for ABS Backed by Consumer Loans

Global Credit Research – Jul 17, 2020

Frankfurt am Main, July 17, 2020 — Moody’s Investors Service has released an updated methodology for rating ABS backed by consumer loans, replacing the version dated March 15, 2019. A footnote has been added for greater transparency on Moody’s approach to transaction monitoring, Appendix 7 has been amended to clarify the approach used for ABS backed by consumer loans in the EMEA region, and limited editorial updates have been made. No material changes have been made to the methodology and therefore there is no impact on the current outstanding ratings.

This press release is not intended to provide a summary of the methodology. For a full explanation, please see “Moody’s Approach to Rating Consumer Loan-Backed ABS”, now available at www.moodys.com and accessible at: http://www.moodys.com/researchdocumentcontentpage.aspx?docid= PBS_1230138.

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This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most up-to-date information on credit rating actions and credit ratings. rating history.

Armin Krapf VP - Senior Credit Officer Structured Finance Group Moody's Deutschland GmbH An der Welle 5 Frankfurt am Main 60322 Germany JOURNALISTS: 44 20 7772 5456 Client Service: 44 20 7772 5454 Daniel Kolter MD - Structured Finance Structured Finance Group JOURNALISTS: 44 20 7772 5456 Client Service: 44 20 7772 5454 Releasing Office: Moody's Deutschland GmbH An der Welle 5 Frankfurt am Main 60322 Germany JOURNALISTS: 44 20 7772 5456 Client Service: 44 20 7772 5454

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