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 new funding arrangement of an existing transaction (Transaction 42) in the Trusts on November 30, 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 42, which consists of a series of AAA (sf)-rated credit card receivables-backed notes.

Note:
The applicable methodologies are DBRS Criteria for Canadian Credit Card Securitization, Rating Canadian ABCP and Legal Criteria for Canadian Structured Finance, which can be found on our website under Methodologies.