DBRS Confirms King Street Funding Trust, Asset-Backed CP Promissory Notes at R-1 (high) (sf)

DBRS Limited (DBRS) has today confirmed the rating on the Asset-Backed CP Promissory Notes of King Street Funding Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 49) to the Trust on November 7, 2014.

As part of DBRS’s ongoing efforts to increase the transparency of reporting ABCP conduit activity, DBRS has today released a transaction summary report providing details of Transaction 49, which is secured by a Collateral Note backed a portfolio of automobile, sport-utility vehicle and light truck retail auto leases originated by a captive auto finance company operating in Canada.

Notes:
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 Auto Retail Loan and Lease Securitizations, Rating Canadian ABCP, Legal Criteria for Canadian Structured Finance and Derivatives Criteria for Canadian Structured Finance, which can be found on our website under Methodologies.