Press Release

DBRS Confirms 13 Series of Hertz Vehicle Financing II LP

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May 09, 2019

DBRS, Inc. (DBRS) confirmed the ratings on 49 classes of securities issued by 13 series of Hertz Vehicle Financing II LP, an asset-backed security transaction. Performance trends of the securities are such that credit enhancement levels are sufficient to cover DBRS loss expectations at their current respective rating levels.

The series reviewed include the following:
-- Hertz Vehicle Financing II LP, Series 2013-A
-- Hertz Vehicle Financing II LP, Series 2015-1
-- Hertz Vehicle Financing II LP, Series 2015-2
-- Hertz Vehicle Financing II LP, Series 2015-3
-- Hertz Vehicle Financing II LP, Series 2016-1
-- Hertz Vehicle Financing II LP, Series 2016-2
-- Hertz Vehicle Financing II LP, Series 2016-3
-- Hertz Vehicle Financing II LP, Series 2016-4
-- Hertz Vehicle Financing II LP, Series 2017-1
-- Hertz Vehicle Financing II LP, Series 2017-2
-- Hertz Vehicle Financing II LP, Series 2018-1
-- Hertz Vehicle Financing II LP, Series 2018-2
-- Hertz Vehicle Financing II LP, Series 2018-3

The ratings are based on DBRS’s review of the following analytical considerations:
-- Transaction capital structure, current 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:
The principal methodology is the DBRS Master U.S. ABS Surveillance Methodology, which can be found on dbrs.com under Methodologies & Criteria.

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.

Please see the related 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.

DBRS, Inc.
140 Broadway, 43rd Floor
New York, NY 10005 USA

Ratings

Hertz Vehicle Financing II LP
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

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