DBRS Morningstar Confirms Banner Trust’s Series A Notes at R-1 (high) (sf)

DBRS Limited (DBRS Morningstar) confirmed the Series A Notes of Banner Trust (Banner) at R-1 (high) (sf). The rating confirmation is pursuant to the inclusion of a new transaction (Transaction 88) on December 20, 2019.

As part of DBRS Morningstar’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper conduit activity, DBRS Morningstar has also released a Transaction Summary report providing details of Transaction 88, which is secured by a portfolio of retail auto loan receivable contracts and related rights (the Portfolio of Loans). The Portfolio of Loans includes primarily new (and a small limit on used) passenger cars, crossover vehicles, sport-utility vehicles, and minivans originated by a captive auto finance company operating in Canada.

Notes:
The principal methodologies are Rating Canadian Auto Retail Loan and Lease Securitizations and Rating Canadian ABCP and Related Enhancement Features, which can be found on dbrs.com under Methodologies & Criteria.

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 under Related Documents or by contacting us at [email protected].

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar 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.

The full report providing additional analytical detail is available by clicking on the link under Related Documents below or by contacting us at [email protected].

For more information on this credit or on this industry, visit www.dbrs.com or contact us at [email protected].

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