DBRS Assigns Rating to the FCT Mercury Class C1 & C2 Units

DBRS has today assigned a long-term rating of A (low) to the senior Class C1 & C2 Units (the Units) issued by FCT Mercury. The rating is based on the information as of December 31, 2008, and is contingent on an operational review of the servicer of the trade receivables program that supports the Units. The Units are backed by trade receivables that were reviewed for their ability to perform within certain thresholds for loss reserves, carrying costs and dilution, as well as other factors specific to the trade receivables portfolio.

Notes:
The applicable public methodology is Trade Receivable Securitization Methodology, which can be found on our website under Methodologies. DBRS has also applied appropriate market-specific trade receivables standards to arrive at this rating.

This is a Structured Finance rating.