DBRS Morningstar Updates Transaction Summary 88 of Plaza Trust

DBRS Limited (DBRS Morningstar) released an updated transaction summary report that provides details on Transaction 88 of Plaza Trust, which is secured by a Collateral Note backed by a portfolio of automobile, sport-utility vehicle, and light truck retail auto leases originated by a captive auto finance company operating in Canada. The update reflects a one-year extension of the program and a change to available credit enhancement.

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 September 10, 2020 (and remain unchanged following a review on November 3, 2020), and reflect the updated scenarios in DBRS Morningstar’s rating analysis. For details see https://www.dbrsmorningstar.com/research/366543. 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 and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

Notes:
The principal methodologies are Rating Canadian Auto Retail Loan and Lease Securitizations (October 26, 2020) and Rating Canadian ABCP and Related Enhancement Features (March 18, 2020), 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.

The transaction summary is available at www.dbrsmorningstar.com.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

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