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

DBRS Limited (DBRS) has today confirmed its rating on the Series 1 Asset-Backed Commercial Paper 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 79) to SKF on November 22, 2016.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper conduit activity, DBRS has today released a transaction summary report providing details of Transaction 79, 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 Securitization, Legal Criteria for Canadian Structured Finance, Derivatives Criteria for Canadian Structured Finance and Rating Canadian ABCP and Related Enhancement Features, which can be found 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.