DBRS Confirms CNH Capital Canada Receivables Trust Series 2009-1, Class A Notes at AAA (sf)

DBRS has today confirmed the rating of the Series 2009-1, Class A Notes (the Notes) of CNH Capital Canada Receivables Trust at AAA (sf).

The rating confirmation is based on the analysis of the performance of the collateral and the levels of credit enhancement available to the Notes. Overall, the underlying assets have performed well within expected ranges, while credit enhancement has increased to provide additional level of protection to the Noteholders.

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 Equipment Finance Securitization, which is available on our website under Methodologies.