Morningstar DBRS Discontinues Credit Rating on Auto ABS French Leases 2021

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AAA (sf) credit rating on the Class B Notes issued by Auto ABS French Leases 2021.

The discontinuation reflects the full repayment of the Class B Notes on the 29 April 2025 payment date. Prior to their repayment in full, the outstanding principal balance of the Class B Notes was EUR 45,011,379.96.

The principal methodology applicable to the credit rating 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/451614

Lead Analyst: Clarice Baiocchi, Vice President
Rating Committee Chair: Alfonso Candelas, Associate Managing Director
Initial Rating Date: 2 June 2021

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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/439604.

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