DBRS Confirms AA (sf) Rating on GMF Canada Leasing Trust’s Floating Rate Asset-Backed Notes, Series 2011-A

DBRS Limited (DBRS) confirmed the AA (sf) rating on the Floating Rate Asset-Backed Notes, Series 2011-A, issued by GMF Canada Leasing Trust as part of DBRS’s continued effort to provide market participants with updates on an annual basis.

This rating confirmation is based on an analysis of the performance of the portfolio to date. The portfolio has performed well since inception, and the high level of credit enhancement available continues to provide sufficient protection to the Notes at their current rating.

DBRS monitors the performance of each transaction to identify any deviation from DBRS’s expectation at issuance and ensure the rating remains appropriate. The review is predicated upon the timely receipt of performance information from the related providers.

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

Notes:
The principal methodologies are Master Canadian Structured Finance Surveillance Methodology (May 2017), Rating Canadian Auto Retail Loan and Lease Securitizations (October 2017) and Legal Criteria for Canadian Structured Finance (July 2017), which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did not participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

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