DBRS Confirms SOUND Trust at R-1 (high) (sf)

DBRS has today confirmed the Senior Short-Term Notes, Series 1998-1 of SOUND Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 54) to the Trust on August 4, 2011.

As part of DBRS’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper (ABCP) conduit activity, DBRS has released a transaction summary report providing details of Transaction 54, which consists of a portfolio of open-end and closed-end lease receivables, financing fleets of individual cars, trucks and equipment.

Note:
The applicable methodology is Rating Canadian Auto Fleet Lease Transactions Methodology, which can be found on our website under Methodologies.