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 55) to the Trust on November 8, 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 55, which consists of a portfolio of fixed-rate monthly, quarterly, semi-annual and annual pay retail lease contracts secured by primarily new and some used small and mid-ticket equipment.

Note:
The applicable methodology is Rating Canadian Equipment Finance Securitization, which can be found on our website under Methodologies.