DBRS Morningstar Updates Pure Grove Funding Transaction 102

DBRS Limited (DBRS Morningstar) released an updated Transaction Summary report providing details of Transaction 102 in Pure Grove Funding, which consists of fixed-rate equipment lease contracts secured by new and used commercial trucks and related equipment.. The update reflects an increase of the Program Limit to $500 million and the addition of Plaza Trust and Storm King Funding as additional Conduit Lenders.

As part of DBRS Morningstar’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper conduit activity, DBRS Morningstar released a transaction summary report providing details of Transaction 102, which consists of fixed-rate equipment lease contracts secured by new and used commercial trucks and related equipment.

ENVIRONMENTAL, SOCIAL, GOVERNANCE CONSIDERATIONS
There were no Environmental/Social/Governance factors that had a significant or relevant effect on the credit analysis.

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 (May 17, 2022) at https://www.dbrsmorningstar.com/research/396929.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The principal methodology is Rating Canadian Equipment Finance Securitization Transactions (October 26, 2022), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

The DBRS Morningstar Sovereign group releases baseline macroeconomic scenarios for rated sovereigns. DBRS Morningstar analysis considered impacts consistent with the baseline scenarios as set forth in the following report: https://www.dbrsmorningstar.com/research/384482.

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.dbrsmorningstar.com or contact us at [email protected].

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