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

DBRS has confirmed the Asset-Backed Commercial Paper Notes (the Notes) of Storm King Funding (SKF or the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 52) to the Trust on September 24, 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 52, which consists of a portfolio of dealer floorplan receivables supported by an interest in the underlying equipment and parts inventory originated by an equipment financing company.

Notes:
The applicable methodology is Canadian Wholesale Floorplan Methodology, which can be found on our website under Methodologies.