Press Release

DBRS Confirms Ratings of Hertz Vehicle Financing II LP

Auto
May 09, 2017

DBRS, Inc. (DBRS) has today confirmed 22 ratings from six series issued by Hertz Vehicle Financing II LP. The confirmations are based on performance trends and credit enhancement levels that are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The ratings are based on DBRS’s review of the following analytical considerations:
-- Transaction capital structure, proposed ratings and form and sufficiency of available credit enhancement.
-- The transaction parties’ capabilities with regard to origination, underwriting and servicing.
-- The credit quality of the collateral pool and historical performance.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

Please see attached appendix for additional information regarding sensitivity of assumptions used in the rating process.

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

Ratings

  • Date IssuedDebt RatedRatingTrendActionAttributesi
    09-May-17Series 2015-2, Class AAAA (sf)--Confirmed
    US
    09-May-17Series 2015-3, Class AAAA (sf)--Confirmed
    US
    09-May-17Series 2016-1, Class A NotesAAA (sf)--Confirmed
    US
    09-May-17Series 2016-2, Class A NotesAAA (sf)--Confirmed
    US
    09-May-17Series 2016-3, Class AAAA (sf)--Confirmed
    US
    09-May-17Series 2016-4, Class AAAA (sf)--Confirmed
    US
    09-May-17Series 2015-2, Class BA (sf)--Confirmed
    US
    09-May-17Series 2015-3, Class BA (sf)--Confirmed
    US
    09-May-17Series 2016-1, Class B NotesA (sf)--Confirmed
    US
    09-May-17Series 2016-2, Class B NotesA (sf)--Confirmed
    US
    09-May-17Series 2016-3, Class BA (sf)--Confirmed
    US
    09-May-17Series 2016-4, Class BA (sf)--Confirmed
    US
    09-May-17Series 2015-2, Class CBBB (sf)--Confirmed
    US
    09-May-17Series 2015-3, Class CBBB (sf)--Confirmed
    US
    09-May-17Series 2016-1, Class C NotesBBB (sf)--Confirmed
    US
    09-May-17Series 2016-2, Class C NotesBBB (sf)--Confirmed
    US
    09-May-17Series 2016-3, Class CBBB (sf)--Confirmed
    US
    09-May-17Series 2016-4, Class CBBB (sf)--Confirmed
    US
    09-May-17Series 2016-1, Class D NotesBB (sf)--Confirmed
    US
    09-May-17Series 2016-2, Class D NotesBB (sf)--Confirmed
    US
    09-May-17Series 2016-3, Class DBB (sf)--Confirmed
    US
    09-May-17Series 2016-4, Class DBB (sf)--Confirmed
    US
    More
    Less
Hertz Vehicle Financing II LP
  • 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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