DBRS gives SCF Funding notes BBB

DBRS said it assigned BBB (low) ratings to SCF Funding LLC’s $21 million of 6.43% series D senior notes due June 30, 2025; $89 million of 6.6% series E senior notes due June 30, 2027; $105 million of 6.69% series F senior notes due June 30, 2029; and $10 million of 6.74% series G senior notes due June 30, 2032.

“The ratings benefit from a guarantee from Stonebriar Finance Holdings LLC (Stonebriar), and as a result are equalized to the long-term issuer rating of Stonebriar,” the agency said in a press release.

The proceeds will be used to repay certain debts and for general corporate purposes.

The trend is stable.

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