DBRS Confirms Lakeshore Trust at R-1 (high) (sf)

DBRS Limited (DBRS) confirmed its rating on the Series 1 Asset-Backed Commercial Paper Notes issued by Lakeshore Trust (Lakeshore) at R-1 (high) (sf). The ratings confirmation is based on the addition of a new transaction to Lakeshore (Transaction 91) on July 25, 2018.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper conduit activity, DBRS has today released a transaction summary report providing details of Transaction 91, which consists of a portfolio of fixed-rate retail loan contracts secured by new and used automobiles, sport-utility vehicles and light trucks.

Notes:
DBRS notes that the above press release was amended on December 3, 2018, to include a note regarding the participation of the rated entity and DBRS’s access to the internal documents of the rated entity. The amendment was minor and would not impact the understanding of the reader.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

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.

The applicable methodologies are Rating Canadian Auto Retail Loan and Lease Securitizations (October 2017), Rating Canadian ABCP and Related Enhancement Features (March 2018), Legal Criteria for Canadian Structured Finance (July 2018) and Derivatives Criteria for Canadian Structured Finance (July 2018), which can be found on our website under Methodologies.

The full report providing additional analytical detail is available by clicking on the link under Related Research at the right of the screen or by contacting us at info@dbrs.com.

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