DBRS Takes Action on U.S. ABS Transaction

DBRS, Inc. (DBRS) discontinued the outstanding ratings of Credit Acceptance Auto Loan Trust 2015-1 due to full repayment. Additionally, DBRS has confirmed the outstanding ratings of Credit Acceptance Auto Loan Trust 2016-2. The confirmation is based on performance trends which are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The issuer’s 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.
-- Credit quality of the collateral pool and historical performance.

The confirmation of the ratings of Credit Acceptance Auto Loan Trust 2016-2 reflects a reserve account of 1.60% and overcollateralization of 22.03% as of the April 2018 payment date.

Notes:
The principal methodology is 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 the attached appendix for additional information regarding the 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.