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

DBRS has confirmed the Asset-Backed Commercial Paper Notes of Storm King Funding at R-1 (high) (sf). The rating confirmation is based on an amendment to increase the facility limit in respect of Transaction 53 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 53, 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.