Morningstar DBRS Discontinues Credit Rating on Auto ABS Italian Balloon 2019-1 S.r.l.

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AAA (sf) credit rating on the Class A Notes issued by Auto ABS Italian Balloon 2019-1 S.r.l.

The discontinuation reflects the full repayment of the Class A Notes on the 23 September 2024 payment date. Prior to the full repayment, the outstanding principal balance of the Class A Notes was EUR 7,065,218.16.

The principal methodology applicable to the credit rating is Master European Structured Finance Surveillance Methodology (6 August 2024) https://dbrs.morningstar.com/research/437540.

In Morningstar DBRS' opinion, a Discontinued-Repaid credit rating action does not warrant the application of the entire principal methodology.

For details on analytical and regulatory disclosures please refer to the latest credit rating action press release published for this transaction: https://dbrs.morningstar.com/research/434734.

Lead Analyst: Pascale Kallas, Assistant Vice President
Rating Committee Chair: Alfonso Candelas, Associate Managing Director
Initial Rating Date:18 July 2019

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A description of how Morningstar DBRS analyses structured finance transactions and how the methodologies are collectively applied can be found at: https://dbrs.morningstar.com/research/278375.

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