Concord Minutemen Capital Company, LLC -- Moody's ABCP activity ending 2 September 2022

Announcement: Moody's ABCP activity ending 2 September 2022Global Credit Research - 06 Sep 2022New York, September 06, 2022 -- RATINGS ACTIVITY ON US ABCP PROGRAMS THROUGH 2 SEPTEMBER 2022:Moody's announced today that the additions and amendments to the programs described below would not in and of themselves as of the date indicated below, result in, as the case may be, a reduction, placement on review for possible downgrade or withdrawal of Moody's current rating of the programs' notes described below.LEGACY CAPITAL COMPANY, LLC REPLACES IPAMoody's issued a RAC letter on 17 August 2022Legacy Capital Company, LLC (Legacy), a fully supported multi-seller ABCP program sponsored by Liberty Hampshire Company, LLC and administered by Guggenheim Treasury Services, LLC has amended its program documents. The Bank of New York Mellon has replaced Deutsche Bank Trust Company of Americas as the issuing and paying agent. The program remains fully supported through liquidity provided by various Prime-1 support providers.As of August 31, 2022, Legacy had approximately $5.75 billion in outstanding ABCP.BUNGE ASSET FUNDING REPLACES ITS DEPOSITARYMoody's issued a RAC letter on 26 August 2022Bunge Asset Funding Corp. (Bunge), a fully supported single-seller ABCP program sponsored by Bunge Limited and administered by JPMorgan Chase Bank, N.A. has amended its program documents. US Bank Trust Company, N.A. has replaced Bank of America, N.A. as the depositary. The program remains fully supported through liquidity provided by various Prime-1 support providers.Bunge can issue up to $600 million of ABCP.CONCORD MINUTEMEN SERIES A ADDS A NEW SWAP FACILITYMoody's issued a RAC letter on 30 August 2022Concord Minutemen Capital Company, LLC Series A (Concord Minutemen Series A), a fully supported ABCP program sponsored by The Liberty Hampshire Company, LLC and managed by Guggenheim Treasury Services, LLC has added a new swap facility to its portfolio. A Prime-1-rated financial institution provides full liquidity support and is required to pay amounts under the swap on any day needed to repay ABCP. The commitment under the swap agreement is sufficient to pay the face amount of commercial paper associated with such swap.Concord Minutemen Series A has approximately $3.3 billion in outstanding ABCP.CONCORD MINUTEMEN SERIES B ADDS A NEW LOAN FACILITYMoody's issued a RAC letter on 30 August 2022Concord Minutemen Capital Company, LLC Series B, a fully supported ABCP program sponsored by The Liberty Hampshire Company, LLC and managed by Guggenheim Treasury Services, LLC has added a new loan facility to its portfolio. A Prime-1-rated financial institution provides full liquidity support and is required to pay amounts under the loan on any day needed to repay ABCP. The commitment under the loan agreement is sufficient to pay the face amount of commercial paper associated with such loan.As of August 31, 2022, Concord Minutemen Series B had approximately $500 million in outstanding ABCP.Moody's opinions address only the credit impact associated with the additions and amendments to the programs described above, and Moody's is not expressing any opinion as to whether the additions or amendments have, or could have, other non-credit related effects that may have a detrimental impact on the interest of noteholders of the rated obligations and/or counterparties.Moody's rating actions through 2 September 2022MOODY'S ASSIGNS A PRIME-1 (sf) RATING TO CLASS B CERTIFICATES ISSUED BY GIFLS CAPITAL COMPANY, LLCFor further details, please see Moody's press release dated 1 September 2022https://www.moodys.com/research/Moodys-assigns-a-Prime-1-sf-rating-to-Class-B--PR_468884The principal methodology used in reaching these conclusions and in monitoring the ratings of the notes issued by the program is "Moody's Approach to Rating Asset-Backed Commercial Paper" published in May 2022. Alternatively, please see the Rating Methodologies page on https://ratings.moodys.com for a copy of this methodology.ABCP RESEARCH THAT WE PUBLISHWe monitor and analyze ABCP programs that we rate on an ongoing basis. A detailed description of each program is published in the ABCP Program Review with respect to such program. All ABCP publications are available on the ABCP page on moodys.com.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 https://ratings.moodys.com for the most updated credit rating action information and rating history.This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the issuer/deal page on https://ratings.moodys.com for the most updated credit rating action information and rating history. Peter Li Asst Vice President - Analyst Structured Finance Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Lisa Singman VP - Sr Credit Officer/Manager Structured Finance Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 /td> © 2022 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. 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