DBRS Morningstar Confirms STABLE Trust, Senior Short Term Notes, Series 2018-1 at R-1 (high) (sf)

DBRS Limited (DBRS Morningstar) confirmed the Senior Short Term Notes, Series 2018-1 of STABLE Trust (the Trust) at R-1 (high) (sf). The rating confirmation is pursuant to the inclusion of a new transaction (Transaction 81) to the Trust on December 31, 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 81, which consists of a portfolio of open-ended floating-rate lease receivables, financing fleets of individual cars, trucks, and equipment.

Notes:
The principal methodologies are Rating Canadian Auto Fleet Lease Transactions 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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