LEAF Commercial Capital, Inc. (“LEAF”), an independent equipment leasing and financing company headquartered in Philadelphia, PA, has announced that Moody’s and DBRS have confirmed and upgraded securities from two series of the LEAF Asset Backed Securitizations (“ABS”).

Moody’s has upgraded seven subordinate securities and confirmed or affirmed seven securities from the LEAF ABS, Series 2011-2 and 2012-1. The transactions are securitizations of small-ticket equipment leases originated and serviced by LEAF. The actions were prompted by a reduction in lifetime net loss expectations for the underlying collateral pool as a result of stronger performance than initially expected.
The complete rating actions were as follows:

Issuer: LEAF Receivables Funding 7, LLC, Series 2011-2

• Class A-2, Affirmed Aaa (sf)
• Class B, Confirmed at Aa2 (sf)
• Class C, Upgraded to Aa3 (sf)
• Class D, Upgraded to A2 (sf)
• Class E-1, Upgraded to Baa1 (sf)
• Class E-2, Upgraded to Ba1 (sf)

Issuer: LEAF Receivables Funding 8, LLC, Series 2012-1

• Class A-2, Affirmed Aaa (sf)
• Class A-3, Affirmed Aaa (sf)
• Class A-4, Affirmed Aaa (sf)
• Class B, Confirmed at Aa2 (sf)
• Class C, Confirmed at A2 (sf)
• Class D, Upgraded to A3 (sf)
• Class E-1, Upgraded to Baa2 (sf)
• Class E-2, Upgraded to Ba1 (sf)

DBRS has also upgraded or confirmed fifteen classes from Series 2011-2 and 2012-1.
Issuer: LEAF Receivables Funding 7, LLC, Series 2011-2

• Class A-2, Confirmed
• Class B, Confirmed
• Class C, Upgraded
• Class D, Upgraded
• Class E-1, Upgraded
• Class E-2, Upgraded

Issuer: LEAF Receivables Funding 8, LLC, Series 2012-1

• Series 2012-1, Class A-1, Discontinued – Repaid
• Series 2012-1, Class A-2, Confirmed
• Series 2012-1, Class A-3, Confirmed
• Series 2012-1, Class A-4, Confirmed
• Series 2012-1, Class B, Confirmed
• Series 2012-1, Class C, Confirmed
• Series 2012-1, Class D, Confirmed
• Series 2012-1, Class E-1, Confirmed
• Series 2012-1, Class E-2, Confirmed

About LEAF Commercial Capital, Inc.
LEAF Commercial Capital, Inc. (“LEAF”) is one of the leading equipment leasing and finance companies in the U.S. Headquartered in Philadelphia, PA., LEAF serves the small – to midticket equipment finance marketplace and maintains a nationwide origination footprint, working with manufacturers as well as vendors of business-essential equipment and software in a variety of industries. www.LEAFnow.com.

Contact: Michelle Speranza, Vice President, Marketing and Communications, msperanza@LEAFnow.com