Press Release

DBRS Assigns Final Ratings to Santander Drive Auto Receivables Trust 2011-2

Auto
June 30, 2011

DBRS has today assigned final ratings to the following classes issued by Santander Drive Auto Receivables Trust 2011-2:

-Series 2011-2 Notes, Class A-1 rated R-1 (high) (sf)
-Series 2011-2 Notes, Class A-2 rated AAA (sf)
-Series 2011-2 Notes, Class A-3 rated AAA (sf)
-Series 2011-2 Notes, Class B rated AA (sf)
-Series 2011-2 Notes, Class C rated A (sf)
-Series 2011-2 Notes, Class D rated BBB (sf)
-Series 2011-2 Notes, Class E rated BB (sf)

Note:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating U.S. Retail Auto Loan Securitizations, which can be found on our website under Methodologies.

The full report providing additional analytical detail is available by clicking on the link below or by contacting us at info@dbrs.com.

Ratings

Santander Drive Auto Receivables Trust 2011-2
  • Date Issued:Jun 30, 2011
  • Rating Action:Provis.-Final
  • Ratings:R-1 (high) (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:USE
  • Date Issued:Jun 30, 2011
  • Rating Action:Provis.-Final
  • Ratings:AAA (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:USE
  • Date Issued:Jun 30, 2011
  • Rating Action:Provis.-Final
  • Ratings:AAA (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:USE
  • Date Issued:Jun 30, 2011
  • Rating Action:Provis.-Final
  • Ratings:AA (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:USE
  • Date Issued:Jun 30, 2011
  • Rating Action:Provis.-Final
  • Ratings:A (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:USE
  • Date Issued:Jun 30, 2011
  • Rating Action:Provis.-Final
  • Ratings:BBB (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:USE
  • Date Issued:Jun 30, 2011
  • Rating Action:Provis.-Final
  • Ratings:BB (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:USE
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.