DBRS Confirms Storm King Funding Asset-Backed Commercial Paper Notes at R-1 (high) (sf)

DBRS Limited (DBRS) has today confirmed its rating on the Asset-Backed Commercial Paper (ABCP) Notes issued by Storm King Funding (SKF) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 76) to SKF on September 15, 2015.

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 76, which consists of a portfolio of automobile and sport-utility vehicle 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 (October 2014), Rating Canadian ABCP and Related Enhancement Features (August 2015), Legal Criteria for Canadian Structured Finance (August 2015) and Derivatives Criteria for Canadian Structured Finance (August 2015), which can be found on our website under Methodologies.

The full report providing additional analytical detail is available by clicking on the link under Related Research at the right of the screen or by contacting us at info@dbrs.com.