DBRS Confirms Ridge Trust, Series A Notes at R-1 (high) (sf)

DBRS has today confirmed the Series A Notes of Ridge Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 17) to the Trust on March 28, 2012.

As part of DBRS’s ongoing efforts to increase the transparency of reporting surrounding asset-backed commercial paper conduit activity, DBRS has today released a transaction summary report providing details of Transaction 17, which consists of a co-ownership interest in a portfolio of dealer receivables originated by an auto finance company operating in Canada and secured by an underlying pool of new and used vehicle receivables.

Notes:
The applicable methodology is Rating Canadian Floorplan Securitization, which can be found on our website under Methodologies.