Kroll Bond Rating Agency Assigns Issuer/Senior Unsecured Debt Rating of BBB+ to Element Financial Corporation

Kroll Bond Rating Agency (“KBRA”) has assigned an issuer and senior unsecured debt rating of BBB+ to Element Financial Corporation (“Element”), a publicly traded company headquartered in Toronto, Ontario, Canada. Element is a leading equipment finance company in North America and the largest independent finance company in Canada specialized in four strategic equipment categories: Fleet Management, Railcar Finance, Aviation Finance and Vendor and Commercial Finance. The outlook on all ratings is stable.

The ratings are supported by Element’s franchise strength and growing market position in Canada as well as the U.S., a highly experienced management team, focus on key business relationships, and strong asset quality. These strengths are balanced by Element’s acquisitive growth strategy, overall exposure to economic conditions in Canada and the U.S., increasing leverage, and dependence on wholesale funding.

The ratings are based on KBRA’s Finance Company Rating Methodology, published on May 2, 2013.

A full rating report will be available in the upcoming weeks.

About Kroll Bond Rating Agency

KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).