DBRS Confirms Ratings on Globaldrive UK Dealer Floorplan Funding I Limited (Funding I), Asset Backed Floating Rate Notes, Series 2007-1

DBRS, Inc. (DBRS) confirmed the AAA (sf) ratings on the Asset Backed Floating Rate Notes, Series 2007-1 and Series 2010-1 issued by Globaldrive UK Dealer Floorplan Funding I Limited (Funding I), Asset Backed Floating Rate Notes, Series 2007-1. The ratings were confirmed as credit enhancement levels are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The DBRS ratings are based on DBRS’s review of the following analytical considerations:
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 euros unless otherwise noted.

The principal methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on our website 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.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

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.