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

DBRS has confirmed the Asset-Backed CP Promissory Notes of King Street Funding Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on an amendment to increase the facility limit in respect of Transaction 33 effective April 30, 2012.

As part of DBRS’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper (ABCP) conduit activity, DBRS has released an updated Transaction Summary report providing details of Transaction 33, which consists of a portfolio of open-ended lease receivables, financing fleets of individual cars, trucks and equipment.

Note:
The applicable methodologies are Rating Canadian Auto Fleet Lease Transactions, Rating Canadian ABCP, Legal Criteria for Canadian Structured Finance and Swap Criteria for Canadian Structured Finance Transactions, which can be found on our website under Methodologies.