Credit Rating Report

SAFE Trust, Senior Short-Term Notes, Series 1996-1, Transaction #70

ABCP

Summary

DBRS Limited (DBRS) released an updated transaction summary report that provides details on Transaction 70 of SAFE Trust, which consists of a portfolio of retail auto lease and loan contracts secured by new and used passenger cars and sport-utility vehicles. The update reflects a change in the excess spread available on auto lease contracts and an increase of the program limit to $200 million that will be in effect in January 2020.