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

DBRS has confirmed the rating on the Asset-Backed CP Promissory Notes of King Street Funding Trust (King Street or the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 39) to the Trust on March 9, 2012.

As part of DBRS’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper (ABCP) conduit activity, DBRS has today released a Transaction Summary report providing details of Transaction 39, which consists of a portfolio of program and non-program rental vehicles.

Notes:
The applicable methodology is DBRS’s published Rating Canadian Rental Car Securitizations Methodology.