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���������ֳ� expects to rate the $400.639 million notes issued by Verdant Receivables LLC (Series 2025-1), backed by a diversified pool of small and mid-ticket commercial equipment leases and loans, with initial credit enhancement levels of 14.00% for class A, 11.00% for class B, 7.50% for class C and 4.00% for class D notes, supported by strong collateral performance and low historical defaults.