DBRS Confirms Storm King Funding at R-1 (high) (sf)

DBRS has today confirmed the Asset-Backed Commercial Paper Notes (the Notes) of Storm King Funding (SKF or the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 54) to the Trust on October 27, 2010.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper (ABCP) conduit activity, DBRS has today released a Transaction Summary report providing details of Transaction 54, which consists of a portfolio of consumer retail auto loans of automobiles, sport utility vehicles and light trucks originated by an auto finance company operating in Canada.

Notes:
The applicable methodology is Rating Canadian Auto Loan Securitization, which can be found on our website under Methodologies.