DBRS Rates Capital Auto Receivables Asset Trust 2006-1

Dominion Bond Rating Service (“DBRS”) has today assigned ratings to the Capital Auto Receivables Asset Trust (“CARAT”) 2006-1 transaction as noted above.

This transaction represents CARAT’s first public securitization of retail auto receivables for 2006. The previous transaction rated by DBRS was the Series 2005-1, issued in May 2005. The transaction is collateralized by retail auto loan receivables financing the purchase of new and used cars and light-duty trucks. The receivables in the 2006-1 transaction are originated by General Motors Acceptance Corporation (“GMAC”) in accordance with GMAC's underwriting standards.

The following factors were considered in arriving at the respective ratings:

(1) Strong performance of CARAT’s static pool vintage origination and ABS trust data, as well as consistent performance in the loss and delinquency statistics for the CARAT-managed portfolio.
(2) The transaction’s total credit enhancement is expected to cover several multiples of DBRS’s conservative base case net loss assumption.
(3) The auto loan receivables are 14.99 months seasoned.
(4) Continued improvement in the general economic conditions and strong consumer liquidity as compared to earlier years of the decade.
(5) Uncertainty surrounding sale of GMAC by General Motors Corporation (“GM”). GM and continued impact of unsecured rating downgrades on access to lower cost of funds.
(6) Volatility in wholesale vehicle prices due to the impact of incentives and general economic conditions, such as gas prices.
(7) Basically unchanged percentage of collateral with original terms greater than 60 months to 25.80% from 25.63% in the CARAT 2005-1 transaction, but an increase from the 2004-2 transaction with 17.09%.

Note:
The Class A-1 Notes and the Class D Notes are Private Placements.