Press Release
DBRS Takes Rating Actions on DT Auto Owner Trust Transactions
AutoDBRS, Inc. (DBRS) reviewed 20 ratings from seven DT Auto Owner Trust U.S. structured finance asset-backed securities transactions. Of the 20 outstanding publicly rated classes reviewed, DBRS confirmed five and upgraded 15. For the ratings that were confirmed, performance trends are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their current respective rating levels. For the ratings that were upgraded, performance trends are such that credit enhancement levels are sufficient to cover DBRS’s expected losses at their new 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.
Ratings
DT Auto Owner Trust 2014-1
DT Auto Owner Trust 2014-2
DT Auto Owner Trust 2015-1
DT Auto Owner Trust 2015-3
DT Auto Owner Trust 2016-2
DT Auto Owner Trust 2016-3
DT Auto Owner Trust 2016-4
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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Related Documents
Methodology Used:
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Contacts
Mark Zelmanovich
Senior Vice President - US ABS Ratings, Surveillance
+(1) 212 806 3254
mark.zelmanovich@morningstar.com- Jayce Fox
Senior Vice President, US ABS Surveillance - Global Structured Finance
+1 203 883 5815
jayce.fox@morningstar.com