DBRS Finalizes AA Ratings of Superior Trust’s Series D Notes and Series E Notes Exchanged for Series B Notes

DBRS has today finalized the provisional ratings of AA for the Series D Floating-Rate Medium Term Notes (the Series D Notes) and the Series E Floating-Rate Medium Term Notes (the Series E Notes; collectively, with the Series D Notes, the Restructured Notes)
issued by Superior Trust (the Trust). The Restructured Notes have a maturity date of September 28, 2016, and were issued in exchange for existing Series B Floating-Rate Notes (the Series B Notes), which were issued by the Trust on July 8, 2008, at the option of the Series B Noteholders and pursuant to the terms of a Superior Trust Series B Restructuring Letter Agreement dated December 4, 2008.

The ratings of the Restructured Notes are based on several factors as noted in the DBRS press releases issued on December 8, 2008, and December 10, 2008.

Notes:
The applicable methodology is Rating Canadian Structured Credit Transactions, which can be found on our website under Methodologies.

This is a Structured Finance rating.