KBRA Assigns Preliminary Ratings too Cheshire 2021-1 PLC - Auto Loan ABS Deal
NEW YORK – [Date of Original text – assumed to be current date] – Kroll Bond Rating Agency (KBRA) has assigned preliminary ratings to several tranches of notes issued by Cheshire 2021-1 PLC, a new auto loan asset-backed securities (ABS) transaction. The ratings reflect KBRA’s assessment of the credit risk associated with the underlying pool of auto loans and the transaction’s structural features.
This rating action underscores KBRA’s role as a full-service credit rating agency registered with key regulatory bodies including the U.S. Securities and Exchange Commission (SEC) as a nationally Recognized Statistical Rating Organization (NRSRO), the European Securities and Markets Authority (ESMA) as a CRA, and the UK Financial Conduct authority. KBRA is also a Designated Rating Organization (DRO) in Ontario, canada, and recognized by Taiwan’s Financial Supervisory Commission and the National Association of Insurance Commissioners in the U.S.
Investors seeking further detail on the key credit considerations, sensitivity analyses impacting potential rating upgrades or downgrades, and the role of Environmental, Social and Governance (ESG) factors – where relevant – are directed to the full rating report.
Details regarding the substantially material sources used in the rating process, as well as the methodologies employed (including models and key assumption sensitivity analyses), are available in the Information Disclosure form located here. Information on KBRA’s rating scales can be found here.
KBRA notes that this credit rating is endorsed by Kroll Bond Rating Agency Europe Limited for use within the European Union, with endorsement status details available on KBRA.com. Further disclosures related to this rating action are also available in the Information Disclosure Form.
KBRA’s policies, methodologies, rating scales, and broader disclosures are accessible at www.kbra.com. Potential conflicts of interest are also addressed, with disclosure information regarding relationships with Shareholders and Shareholder-Related Companies available here.
Kroll Bond Rating Agency UK Limited, located at 1 Connaught Place, London, also contributes to KBRA’s global ratings coverage.
