The first public Turkish ABS transaction, Driver Turkey Master (see SCI's deal pipeline), has been provisionally rated by both Fitch and Moody's. The TRY1.94bn transaction securitises Turkish auto loan receivables originated by Volkswagen Dogus Finansman (VDF) and features a one-year revolving period.
VDF is 51% owned by VW Financial Services and 49% owned by the Dogus Group.
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