DBRS Assigns A (high) (sf) Rating to Holman Canada Limited Partnership Variable Funding Note

DBRS has today assigned a rating of A (high) (sf) to the Variable Funding Note (the Note) issued by Holman Canada Limited Partnership (the Issuer). The Note is expected to be repaid through the collection of proceeds arising from a portfolio of fleet receivables, including cars; light, medium and heavy-duty trucks; and equipment.

Stress tests using assumptions, including replacement servicer fees and large increases in delinquency and credit losses, indicate that credit enhancement provides sufficient protection to the Note to warrant the rating assigned.

Notes:
The applicable methodologies include an internally approved methodology for rating Canadian Auto Fleet Securitizations and Legal Criteria for Canadian Structured Finance.