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

DBRS has today confirmed the Senior Short-Term Asset-Backed Notes of Merit Trust and Prime Trust (collectively, the Trusts) at R-1 (high) (sf). The rating confirmations are pursuant to the addition of assets to Transaction 61 in the Trusts on March 26, 2012.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper (ABCP) conduit activity, DBRS has also released an updated Transaction Summary report providing details of Transaction 61, which consists of a portfolio of conventional and insured residential mortgages originated by a large financial services company operating in Canada.

Note:
The applicable methodologies are Canadian RMBS 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.