DBRS Releases Updated Methodology for Rating Canadian Auto Fleet Lease Transactions

DBRS Limited (DBRS) has today released an updated version of its methodology Rating Canadian Auto Fleet Lease Transactions, superseding the version published in April 2011. Rating Canadian Auto Fleet Transactions is applied to Canadian structured finance transactions in conjunction with the methodologies Legal Criteria for Canadian Structured Finance and Rating Canadian ABCP.

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 Auto Fleet Transactions are generally editorial in nature, including clarification of certain criteria and the removal 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.