DBRS Confirms Bay Street Funding Trust at R-1 (high) (sf)

DBRS has confirmed the Short-Term ABN, Series 1, Class A Notes (the Notes) of Bay Street Funding Trust (Bay Street or the Trust) at R-1 (high) (sf). The rating confirmation is based on amendments made to a current transaction (Transaction 34) on March 6, 2012.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper (ABCP) conduit activity, DBRS has updated the Transaction Summary to reflect an additional unrelated lender being added to the program.

Notes:
The applicable methodologies are Rating Canadian Auto Loan Securitizations, Legal Criteria for Canadian Structured Finance and Swap Criteria for Canadian Structured Finance, which can be found on our website under Methodologies.