DBRS Discontinues Rating on Liquidity Agreement Supporting HK Extended 2014-1 within Institutional Secured Funding

DBRS, Inc. (DBRS) discontinued its rating of AAA (sf) on the Liquidity Agreement (LA) dated August 13, 2014, supporting HK Extended 2014-1 within Institutional Secured Funding. This rating action reflects the full and timely repayment of the interest and principal, in accordance with the transaction documentation. The rating also addressed a full-term amortizing loan facility secured by a discrete pool of auto loans originated and serviced by a captive finance company.

The sources of information used for this rating include parties involved in the rating, including, but not limited to, Credit Suisse.

Notes:
The principal methodologies are Rating and Monitoring Asset-Backed Commercial Paper: U.S. ABCP Conduits, Rating U.S. Auto Lease Securitizations and 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 for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

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