DBRS Downgrades the Rating on UACC Auto Financing Trust II based on Amended Warehouse Transaction Provisions

In consideration of amended warehouse transaction provisions effected today, DBRS has downgraded the rating of the Class B loans of the UACC Auto Financing Trust II transaction from A(high)(sf) to A (sf). These changes include modifications to advance rate requirements and collateral concentration limits which are commensurate with an A (sf) rating. Further, DBRS confirms the AA (sf) rating of the UACC Auto Financing Trust II Class A loans. The UACC Auto Financing Trust II facility is a warehouse provided to United Auto Credit Corporation (UACC) for the financing of auto loan receivables originated by UACC, a subsidiary of United PanAm Financial Corporation.

Note:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating U.S. Retail Auto Loan Securitizations, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.