DBRS Releases Updated Methodology for Rating Canadian Rental Car Fleet Securitizations

DBRS Limited (DBRS) has today released an updated version of its “Rating Canadian Rental Car Fleet Securitizations” methodology, which supersedes the version published in May 2011. This methodology is applied to Canadian structured finance transactions in conjunction with DBRS’s “Legal Criteria for Canadian Structured Finance” and “Rating Canadian ABCP” methodologies. Publication of the updated methodology is part of DBRS’s ongoing efforts to provide greater transparency to the ratings process by outlining the various factors that DBRS expects to see in transaction documentation, particularly for transactions rated AAA (sf) or R-1 (high) (sf).

The changes made to the updated “Rating Canadian Rental Car Fleet Securitizations” methodology are generally editorial in nature, including clarification of certain criteria and the removal of a couple of sections that are more appropriately addressed in other Canadian Structured Finance criteria or methodologies.

DBRS does not view the updates as significant and has determined that the updated methodology will not result in any impact on existing Canadian structured finance ratings

Note:
The methodology providing DBRS's processes and criteria is available by contacting us at info@dbrs.com