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 confirmation is pursuant to the increase in program limit for Transaction 62 in the Trusts on April 2, 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 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.