Auto ABS Securitizations Class B Notes

Auto ABS Securitizations Class B Notes

Driver UK Master S.A., Compartment 3
Rating History
RatingWatchOutlookErstellungVeröffentlichungMax. Gültig Bis
A+sf Outlook STA20.03.202025.03.2020 25.05.2027
A+sf Outlook STA22.05.201928.05.2019 25.05.2027
A+sf Outlook STA17.08.201821.08.2018 26.05.2026
A+sf Watch UNW26.07.201802.08.2018 26.05.2026
A+sf Outlook STA23.05.201825.05.2018 26.05.2026
A+sf 01.09.201715.09.2017 27.05.2025
  • 25.03.2020
    Following an extension of the revolving period, Creditreform Rating confirms the ratings of Class A and B notes series of Driver UK Master S.A., acting for and on behalf of its Compartment 3 (DUKM), as follows:

    GBP 401,000,000 Class A 2016-1 Floating Rate Asset Backed Notes: AAAsf/ stable

    GBP 55,000,000 Class B 2016-1 Floating Rate Asset Notes: A+sf/ stable

    As of March 2020 the outstanding discounted balance amounts to GBP 604m with a share of 0.48% of the outstanding discounted balance being delinquent. The cumulative net loss ratio is 0.76% of the initial discounted receivables balance. The current total CE levels are 34.52% and 25.42% for the Class A and B notes, respectively.

    The revolving period of the transaction was extended until November 2020. Creditreform Rating did not observe any negative implications for its Credit and Portfolio Risk analysis or Cashflow analysis. Therefore, the ratings are not affected by the extension of the revolving period.