The rating assigned to Lexington Parker Capital Co. LLC (Lexington Parker) CP is based on: The liquidity funding commitments sufficient to cover at least 100% of the face amount of CP outstanding; A minimum rating of 'A-1' for each financial institution providing the liquidity commitments; and The bankruptcy-remote structure of Lexington Parker. Lexington Parker is not required to maintain credit support at the program level because its pool-specific credit support and liquidity commitments can be drawn to repay the full face amount of outstanding CP to the 'A-1' level of certainty. Lexington Parker is a bankruptcy-remote, Delaware limited liability company that can issue up to $15.0 billion in CP notes in the U.S. and Europe. Lexington Parker uses the proceeds
