DBRS Confirms Canadian Capital Auto Receivables Asset Trust II Series 2006-1 at AAA (sf)

DBRS has today confirmed the rating of the VPR Loans, Series 2006-1 (the VPR Loans) issued by Canadian Capital Auto Receivables Asset Trust II (CCARAT II) at AAA (sf), with a Stable trend.

Although the collateral experienced a slight deterioration since 2009 as the economic environment weakened, the overall performance of the program has been strong. The credit protection available to the VPR Loans is high in relation to the risk of further losses, which is also mitigated by the short time remaining to maturity of the outstanding notes.

DBRS is committed to confirming the ratings of publicly rated asset-backed securities (ABS) transactions on an annual basis as part of the continuing effort to provide market participants with timely and transparent updates. The ratings of other publicly rated ABS notes will be confirmed throughout the year.

Note:
The applicable methodology is Rating Canadian Auto Loan Securitization, which is available on our website under Methodologies.