DBRS Finalizes Provisional Ratings on CNH Capital Canada Receivable-Backed Notes, Series 2013-1

DBRS has today finalized the provisional ratings of AAA (sf) on the Class A Receivable-Backed Notes, Series 2013-1 and A (sf) on the Class B Receivable-Backed Notes, Series 2013-1 (the Notes), issued by CNH Capital Canada Receivables Trust. The Notes are backed by a pool of retail installment sales contracts secured by new and used agricultural and construction equipment originated entirely in Canada. The Notes were issued on a private placement basis and are structured as sequential pass-through securities with principal and interest paid on a monthly basis from collections on the receivables.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodologies are Rating Canadian Equipment Finance Securitization and Legal Criteria for Canadian Structured Finance, which can be found on our website under Methodologies.