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Moody's Upgrades LEAF Receivables Funding Equipment Backed ABS from 2011 and 2012

7 May, 2014

Philadelphia, PA—May 8, 2014—LEAF Commercial Capital, Inc. (“LEAF”) a specialized equipment leasing and finance company headquartered in Philadelphia, PA., has announced that Moody's has upgraded seven mezzanine and subordinate securities and affirmed six securities from the LEAF Receivables Funding LLC, Series 2011-2 and 2012-1. The transactions are securitizations of small-ticket equipment leases serviced by LEAF Commercial Capital, Inc.

Ratings Rationale
The actions were prompted by a build-up of credit enhancement due to sequential payment structure of the transactions and non-declining reserve account. Credit enhancement available to the securities includes overcollateralization, non-declining reserve account and excess spread. The cumulative net loss expectation for both transactions remains unchanged since prior review.

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 mid-ticket 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. Visit http://www.LEAFnow.com for information.






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