DBRS Morningstar Updates Transaction Summary 25 of Zeus Receivables Trust

DBRS Limited (DBRS Morningstar) released an updated Transaction Summary report that provides details on Transaction 25 of Zeus Receivables Trust, which consists of a portfolio of primarily open-ended lease receivables financing corporate fleets of passenger cars, trucks, and equipment. This update is part of DBRS Morningstar’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper conduit activity. The update reflects amendments to the program, including a two-year extension of the program commitment and a decrease to the program limit.

DBRS Morningstar considered additional analyses and, where appropriate, additional adjustments to expected performance as a result of the global efforts to contain the spread of Coronavirus Disease (COVID-19). On June 18, 2021, the DBRS Morningstar Sovereigns group published its updated outlook on the impact of the pandemic on key economic indicators for the 2021–22 time frame. For details see https://www.dbrsmorningstar.com/research/380281. DBRS Morningstar’s analysis considered impacts consistent with the moderate scenario in the referenced commentary.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.

Notes:
The principal methodologies are Rating Canadian Auto Retail Loan and Lease Securitizations (October 26, 2020) and Rating Canadian ABCP and Related Enhancement Features (March 12, 2021), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

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

DBRS Limited
DBRS Tower, 181 University Avenue, Suite 700
Toronto, ON M5H 3M7 Canada
Tel. +1 416 593-5577