DBRS Confirms Ratings on Globaldrive UK Dealer Floorplan Funding I Limited, Series 2010-1

DBRS, Inc. (DBRS) has confirmed Globaldrive UK Dealer Floorplan Funding I Limited, Series 2010-1 Class A Loan Notes at AAA (sf). The securitisation was initially issued in January 2010. The transaction is performing within DBRS expectations and available credit enhancement for Class A is sufficient to cover DBRS expected losses.

Note:
All figures are in GBP or Pounds Sterling (₤) unless otherwise noted.

The principal methodologies applicable are Rating U.S. Wholesale Auto Securitizations, 08 June 2011 and the DBRS Legal Criteria for European Structured Finance Transactions dated 06 July 2011, which can be found on our website under Methodologies. DBRS reflected UK specific asset considerations in its analysis as described in the linking document.

For additional information on this rating, please refer to the linking document located below.

Lead Analyst: Chris O’Connell
Rating Committee Chair: Claire Mezzanotte
Initial Rating Date: 12 January 2010