DBRS Morningstar Updates Transaction Summary 72 of Storm King Funding

DBRS Limited (DBRS Morningstar) released an updated transaction summary report that provides details on Transaction 72 of Storm King Funding, which is secured by a portfolio of mostly open-ended lease receivables, financing fleets of cars, trucks and equipment. The update reflects a change made 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 the Coronavirus Disease (COVID-19) pandemic. DBRS Morningstar initially published macroeconomic scenarios on April 16, 2020. The scenarios were updated on June 18, 2021, and DBRS Morningstar’s rating analysis reflect the updated scenarios. 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 Fleet Lease Transactions (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].

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