DBRS Confirms Nissan Canada Auto Receivables Limited Partnership at AA (sf)

As part of DBRS Limited’s (DBRS) continued effort to provide market participants with updates on an annual basis, DBRS has today confirmed the NCAR LP Promissory Note 2012-01 (the Note) issued by Nissan Canada Auto Receivables Limited Partnership at AA (sf).

The confirmation is based on the analysis of the collateral and the levels of credit enhancement available to the Note. Overall, the underlying assets have performed well within expected ranges, while credit enhancement has increased to provide additional level of protection to the Noteholders.

DBRS monitors the performance of each transaction to identify any deviation from DBRS’s expectation at issuance and to ensure that the rating remains appropriate. The review is predicated upon the timely receipt of performance information from the related providers.

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 Master Canadian Structured Finance Surveillance (May 2015), Rating Canadian Auto Retail Loan and Lease Securitizations (October 2014) and Legal Criteria for Canadian Structured Finance (August 2014), which are available on our website under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.