DBRS Confirms Storm King Funding at R-1 (high)

DBRS has today confirmed the Asset-Backed Commercial Paper Notes (the Notes) of Storm King Funding (Storm King or the Trust) at R-1 (high). The rating confirmation is based on the addition of a new transaction (Transaction 47) to the Trust on April 9, 2010.

As part of DBRS’s ongoing efforts to increase the transparency of reporting surrounding asset-backed commercial paper (ABCP) conduit activity, DBRS has today released a transaction summary report providing details of Transaction 47, which consists of a portfolio of passenger automobile, sport utility vehicle (SUV), minivan and pickup and light-duty truck closed-end leases originated by a major captive auto finance company.

Notes:
The applicable methodology is Rating Canadian Auto Lease Transactions, which can be found on our website under Methodologies.

This is a Structured Finance rating.