EX-33.1 3 tm241138d9_ex33-1.htm EXHIBIT 33.1

 

Exhibit 33.1

 

Management’s Assessment on Compliance with SEC Regulation AB Criteria

 

Management of Hyundai Capital America (the Company) is responsible for assessing compliance with the applicable servicing criteria set forth in Item 1122(d) of Regulation AB of the Securities and Exchange Commission relating to the servicing of auto receivable backed security transactions issued on or after January 1, 2006 (the Platform), except for servicing criteria 1122(d)(1)(iii)-(iv), 1122(d)(2)(iv), 1122(d)(3)(iii)-(iv), 1122(d)(4)(ix)-(xiii), and 1122(d)(4)(xv), which the Company has determined are not applicable to the activities it performs with respect to the Platform (the Applicable Servicing Criteria) as of and for the year ended December 31, 2023 (the Reporting Period). With respect to Applicable Servicing Criteria 1122(d)(2)(iii), there were no activities performed during the year ended December 31, 2023 with respect to the Platform because there were no occurrences of events that would require the Company to perform such activities. Appendix A identifies the individual asset-backed transactions and securities defined by management as constituting the Platform.

 

With respect to servicing criteria 1122(d)(2)(i) and 1122(d)(4)(iv), management has engaged various vendors to perform the activities required by these servicing criteria. The Company’s management has determined that none of these vendors is considered a “servicer,” as defined in Item 1101(j) of Regulation AB, and the Company’s management has elected to take responsibility for assessing compliance with the servicing criteria applicable to each vendor as permitted by the SEC’s Compliance and Disclosure Interpretation (“C&DI”) 200.06, Vendors Engaged by Servicers (C&DI 200.06). Management has policies and procedures in place designed to provide reasonable assurance that the vendors’ activities comply in all material respects with the servicing criteria applicable to each vendor. The Company’s management is solely responsible for determining that it meets the SEC requirements to apply C&DI 200.06 for the vendors and related criteria.

 

The Company’s management has assessed the Company’s compliance with the applicable servicing criteria as of and for the year ended December 31, 2023. In making this assessment, management used the criteria set forth by the Securities and Exchange Commission in paragraph (d) of Item 1122 of Regulation AB.

 

Based on such assessment, management believes that, as of and for the year ended December 31, 2023, the Company has complied in all material respects with the servicing criteria set forth in Item 1122(d) of Regulation AB of the Securities and Exchange Commission relating to the servicing of the Platform.

 

Baker Tilly US, LLP, an independent registered public accounting firm, has issued an attestation report with respect to management’s assessment of compliance with the Applicable Servicing Criteria as of and for the year ended December 31, 2023.

 

  /s/ Charley Changmin Yoon
 

Charley Changmin Yoon

Treasurer

   
  March 6, 2024
  Date

 

 

 

 

Appendix A:

 

Hyundai Auto Receivables Trust 2019-A

Hyundai Auto Receivables Trust 2019-B

Hyundai Auto Receivables Trust 2020-A

Hyundai Auto Receivables Trust 2020-B

Hyundai Auto Receivables Trust 2020-C

Hyundai Auto Receivables Trust 2021-A

Hyundai Auto Receivables Trust 2021-B

Hyundai Auto Receivables Trust 2021-C

Hyundai Auto Receivables Trust 2022-A

Hyundai Auto Receivables Trust 2022-B

Hyundai Auto Receivables Trust 2022-C

Hyundai Auto Receivables Trust 2023-A

Hyundai Auto Receivables Trust 2023-B

Hyundai Auto Receivables Trust 2023-C