Westlake Automobile Receivables Trust 2021-1: Presale Report
DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to Westlake Automobile Receivables Trust 2021-1 as listed above. The originator is Westlake Services, LLC (Westlake), a privately held company established in 1978. Westlake is primarily owned by Don Hankey (67%) and Marubeni Corporation (24%). Mr. Hankey is the owner of the Hankey Group of Companies and has been in the automotive industry since 1967. This is the twenty-fourth asset-backed securities transaction that Westlake has issued since 2010. The collateral securing the notes consists entirely of a pool of retail automobile contracts secured by predominantly used vehicles that typically have high mileage. The loans are primarily made to obligors who are categorized as subprime, largely because of their credit history and Credit Scores.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.