DBRS Maintains CFI Trust’s Long-Term Ratings Under Review – Developing

DBRS has today maintained the Series 1999-1, Class B, Bridge Notes, the Series 1999-1, Class C, Term Notes and the Series 2005-1, Class A-1 Notes (collectively, the Notes) issued by CFI Trust (the Trust) Under Review with Developing Implications where they were placed on September 2, 2008. The maintaining of the Under Review with Developing Implications status reflects the ongoing discussions with noteholders regarding the restructuring of funding arrangements for the Trust as the Expected Final Maturity Date of the Series 2005-1, Class A-1 Notes is September 15, 2008. If timely resolution of these negotiations is not achieved before the Expected Final Maturity Date, the ratings of the Notes may be subject to further rating actions or commentary.

Furthermore, DBRS has informed CFI Leasing Limited, the administrator of the Trust, of the requirement to meet the criteria for a conduit sponsor (please see the link below to the January 26, 2006, press release “DBRS Releases Criteria for New ABCP Conduit Sponsors” for further details) by December 31, 2008. Failure to meet the criteria on or before December 31, 2008, may also result in the ratings of the Notes being subject to further rating actions.

The underlying assets are retail and small-fleet leases and loans related to automobiles, minivans, sport utility vehicles (SUVs) and light-duty trucks. The Under Review with Developing Implications status does not reflect the credit quality of the underlying assets nor the credit protection available.