DBRS Confirms Rating on ARI Funding 9 LLC

DBRS has confirmed the AA (sf) rating on the ARI Funding 9 LLC $150 million warehouse facility secured by fleet leases originated by Automotive Rentals, Inc. (ARI). ARI is a fleet services provider specializing in complex car and truck fleets.

The confirmation takes into consideration the recent downgrade of The Royal Bank of Scotland plc as swap counterparty and collateral performance over the last 12 months. Current performance of the transaction is consistent with DBRS expectations at its current rating level.

Notes:
The applicable methodologies are DBRS Legal Criteria for U.S. Structured Finance Transactions and DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website under Methodologies.

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