DBRS Confirms Bay Street Funding Trust at R-1 (high) (sf)

DBRS has confirmed the Short-Term ABN, Series 1, Class A Notes of Bay Street Funding Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 35) to the Trust on July 15, 2011.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper (ABCP) conduit activity, DBRS has today released a Transaction Summary report providing details of Transaction 35, which consists of a portfolio of consumer retail auto loans of automobiles, sport utility vehicles and light trucks originated by an auto finance company operating in Canada.

Notes:
The applicable methodology is Rating Canadian Auto Loan Securitization, which can be found on our website under Methodologies.