Press Release

DBRS Assigns Rating to PCARS, LLC

Auto
March 27, 2015

DBRS, Inc. has today assigned a rating of AAA (sf) to the PCARS, LLC facility. The PCARS, LLC facility is a warehouse provided to the U.S. captive finance company (the Originator) of a German automotive manufacturer for the financing of auto loan and lease receivables. The Originator also acts as the servicer for the facility.

Notes:
The applicable methodologies are Rating U.S. Retail Auto Loan Securitizations, and Rating U.S. Auto Lease Securitizations, which can be found on our website under Methodologies.

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

Ratings

PCARS, LLC
  • Date Issued:Mar 27, 2015
  • Rating Action:New Rating
  • Ratings:AAA (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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DBRS Assigns Rating to PCARS, LLC

Mar 27, 2015

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