DCR Rates Falcon Auto Lease Collateralized Notes, Series 1997-A
24 September 1997
DCR Rates Falcon Auto Lease Collateralized Notes, Series 1997-ANEW YORK, Sept. 24 -- Duff & Phelps Credit Rating Co. (DCR) has assigned a 'A' (Single-A) rating to Falcon's $15,480,611 6.94 percent Auto Lease Collateralized Notes, Series 1997-A. The rating is based on Falcon's conservative underwriting, strong management team, and credit enhancement in the form of an unrated subordinate tranche and a cash reserve. Falcon Capital LLC is a specialty finance company, located in Scottsdale, Arizona, that focuses on the prime credit sector of the retail automobile leasing market in the Midwest. It has established relationships with 35 dealers in the midwest with plans for expansion. All servicing is performed by its central office in Scottsdale. The placement agent for the transaction was Banc One Capital Corporation. SOURCE Duff & Phelps Credit Rating Co.