Moody's: No ratings Impact on CCARAT Auto Loan ABS following RBC replacement of Ally Canada as Transaction Sponsor
Toronto, February 06, 2013 -- Moody's announced today that the execution of the Master Assignment and Assumption Agreements on February 1, 2013, whereby Ally Credit Canada Company ("Ally Canada") will transfer all its rights, interests and obligations under all documents including the Financial Services Agreements, Sale and Servicing Agreements and Co-ownership Agreements to Royal Bank of Canada ("RBC", Aa3/P-1), in and of itself and at this time, will not result in a reduction, withdrawal, or placement under review for possible downgrade of the ratings currently assigned to any class of outstanding notes issued by CCARAT III Series 2010-1, CCARAT II Series 2011-1, Series 2011-2 and Series 2012-1 (the "Notes").
