DBRS Assigns AAA (sf) Rating to Element Fleet Lease Receivables L.P. Series 2014-1 Floating Rate Asset Backed Variable Funding Investor Notes, Class A

DBRS Limited (DBRS) has today assigned a rating of AAA (sf) to the Series 2014-1 Floating Rate Asset Backed Variable Funding Investor Notes, Class A (the Notes) issued by Element Fleet Lease Receivables L.P. The Notes are backed by a portfolio of auto fleet lease receivables.

The rating is assigned at the request of a Note purchaser for regulatory purposes.

Note:
The principal methodologies are Rating Canadian Auto Fleet Lease Transactions (October 2016), Legal Criteria for Canadian Structured Finance (July 2016) and Derivatives Criteria for Canadian Structured Finance (July 2016), which can be found on dbrs.com under Methodologies.