Nations Equipment Finance LLC (NEF) is shaving exposure to oil-and-gas equipment contracts in its latest asset-backed deal – but still has “relatively high exposure” to the risky field, according to a presale report from DBRS.

The Norwalk, Conn.-based commercial equipment lessor, which in two previous deals had up to 30% of its obligor pool comprised of drillers and gas-well operators, is marketing its new $170.1 million ABS with only 16.4% of the contracts related to leased or financed equipment for oilfield services and rigs. 

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