Morningstar DBRS Discontinues Credit Ratings on BBVA Consumer Auto 2018-1 FT

DBRS Ratings GmbH (Morningstar DBRS) discontinued its credit ratings on the Class B Notes, Class C Notes, and Class D Notes (together, the Rated Notes) issued by BBVA Consumer Auto 2018-1 FT.

The discontinuation reflects the full repayment of the Rated Notes on the 22 April 2025 payment date. Prior to their repayment in full, the credit ratings and the outstanding principal balances of the Rated Notes were as follows: 

-- Class B Notes rated AAA (sf); EUR 9,121,444.24
-- Class C Notes rated AA (low) (sf); EUR 32,800,000.00
-- Class D Notes rated BBB (sf); EUR 10,000,000.00

The principal methodology applicable to the credit ratings is: "Master European Structured Finance Surveillance Methodology" (4 February, 2025) https://dbrs.morningstar.com/research/447080.

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 rating action press release published for this transaction: https://dbrs.morningstar.com/research/434391.

Lead Analyst: Daniel Rakhamimov, Assistant Vice President
Rating Committee Chair: Mark Wilder, Senior Vice President
Initial Rating Date: 13 June 2018

DBRS Ratings GmbH
Neue Mainzer Straße 75
D-60311 Frankfurt am Main
Tel. +49 (69) 8088 3500
Geschäftsführung: Detlef Scholz, Marta Zurita Bermejo
Amtsgericht Frankfurt am Main, HRB 110259

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/439604.

For more information on this credit or on this industry, visit dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.