DBRS Confirms SAFE Trust, Senior Short-Term Asset-Backed Notes, Series 1996-1 at R-1 (high) (sf)

DBRS has today confirmed the Senior Short-Term Asset-Backed Notes, Series 1996-1 of SAFE Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 56) to the Trust on June 29, 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 56, which consists of 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 methodologies are Rating Canadian Floorplan Securitizations (May 2011), Rating Canadian ABCP (April 2011) and Legal Criteria for Canadian Structured Finance (November 2010), which can be found on our website under Methodologies.