DBRS Confirms Ratings on CNH Wholesale Master Note Trust Series 2011-1

DBRS, Inc. (DBRS) has today confirmed the ratings on CNH Wholesale Master Note Trust Series 2011-1 as listed below. The confirmation is based on a review by DBRS of the extension of the expected maturity dates for a series in the master trust. The series 2010-1 expected maturity date has been extended one year, from March 2012 to March 2013. The confirmation is also based on the performance variables in the master trust which remain in line with DBRS expectations.

DBRS confirmed the following ratings in the CNH Wholesale Master Note Trust:

--Series 2011-1, Class A rated AAA (sf)
--Series 2011-1, Class B rated ‘A’ (sf)

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

The applicable methodologies are the DBRS Master U.S. ABS Surveillance Methodology and Rating U.S. Wholesale Auto Securitizations which can be found on our website under Methodologies.