Ally Credit Canada Ltd is marketing a new Canadian Auto securitization deal, Canadian Capital Auto Receivables Asset Trust II (CCARAT II), Series 2011-2.
Moody's Investors Service has assigned the class A-1, A-2 and A-3 notes of the deal a provisional rating of 'Aaa'. The class B and C notes also rated by Moody's have been assigned a provisional rating of 'Aa3' and 'A2' respectively. All classes of notes are enhanced by 1.75% overcollateralization, a 1.0% cash reserve account and the minimum 2.0% in excess spread. The class A notes are further enhanced by subordinate class B and class C notes.