DBRS Confirms Merit Trust, Prime Trust and Zeus Receivables Trust at R-1 (high) (sf)

DBRS has today confirmed the Senior Short-Term Asset-Backed Notes of Merit Trust, Prime Trust and Zeus Receivables Trust (collectively, the Trusts) at R-1 (high) (sf). The rating confirmations are pursuant to the inclusion of a new transaction (Transaction 62) in the Trusts on October 31, 2011.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper (ABCP) conduit activity, DBRS has also released a transaction summary report providing details of Transaction 62, which consists of a portfolio of insured home equity lines of credit originated by a chartered bank operating in Canada.

Note:
The applicable methodologies are Rating Canadian Home Equity Lines of Credit (HELOCs) Methodology, Rating Canadian ABCP, Legal Criteria for Canadian Structured Finance and Swap Criteria for Canadian Structured Finance Transactions, which can be found on our website under Methodologies.