Morningstar DBRS Discontinues Credit Rating on Auto ABS Italian Rainbow Loans S.r.l. (2022)

DBRS Ratings GmbH (Morningstar DBRS) discontinued its AAA (sf) credit rating on the Class A Notes issued by Auto ABS Italian Rainbow Loans S.r.l. (2022).

The discontinuation reflects the full repayment of the Class A Notes on the 26 March 2025 payment date, following the transaction unwinding. Prior to the repayment in full, the outstanding principal balance of the Class A Notes was EUR 174,183,408.00.

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/448032.

The lead analyst responsibilities for this transaction have been transferred to Alice Comastri.

Lead Analyst: Alice Comastri, Senior Analyst
Rating Committee Chair: Alfonso Candelas, Associate Managing Director
Initial Rating Date: 27 April 2022

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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.