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Canadian Pacer Auto Receivables Trust 2019-1 -- Moody's assigns provisional ratings to CPART 2019-1, Bank of Montreal sponsored Canadian prime auto loan transaction

Moody's Investors Service ("Moody's") has assigned provisional ratings of (P)P-1 (sf) to the Class A-1 notes, (P)Aaa (sf) to the Class A-2a, A-2b, A-3 and A-4 notes, (P)Aa3 (sf) to Class B notes and (P)Baa2 (sf) to Class C notes to be issued by Canadian Pacer Auto Receivables Trust 2019-1 (CPART 2019-1). This is the fourth term auto loan-backed transaction sponsored by Bank of Montreal (BMO). The ratings are primarily based on an analysis of the credit quality of the collateral pool and its expected performance, the servicing ability of BMO, and the level of credit enhancement available under the proposed capital structure.