Azure Finance No 3 Ratings Upgraded by DBRS

Blue Motor Finance Limited (Blue), a UK based car finance provider authorised and regulated by the Financial Conduct Authority, No.737682, is pleased to advise that DBRS has improved its credit ratings for several classes of notes on Blue’s most recent Public ABS, Azure Finance No.3 PLC.
• The B,C,D,E and F notes have all received a rating upgrade from AA (sf) to AA (high) (sf); A (sf) to A (high) (sf), BBB (sf) to (A) low (sf), BB (sf) to BBB (sf) and from B (sf) to BB respectively.
• Other note tranches A and X have been reaffirmed as AAA (sf) and B (low) (sf) respectively.
The upgrade and affirmation of these tranches were prompted by an increase in the credit enhancement available in the transaction.
Tiku Patel, CEO of Blue Motor Finance commented:
“Blue continues to demonstrate a prudent approach to underwriting, with strong customer service levels aiming to deliver great customer outcomes. We are pleased that DBRS has upgraded several of our Azure 3 transaction’s ratings, showing confidence in our customers and portfolio performance.”
Read the full DBRS press release here: https://dbrs.morningstar.com/research/429504/morningstar-dbrs-upgrades-and-confirms-credit-ratings-on-azure-finance-no3-plc

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