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

DBRS has confirmed the Senior Short-Term Asset-Backed Notes of Prime Trust at R-1 (high) (sf). The rating confirmation is based on an amendment to decrease the facility limit in respect of Transaction 25 effective June 29, 2012.

As part of DBRS’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper (ABCP) conduit activity, DBRS has released an updated Transaction Summary report providing details of Transaction 25, which consists of a portfolio of open-ended lease receivables, financing fleets of individual cars, trucks and equipment.

Notes:
The applicable methodologies are Rating Canadian Auto Fleet Lease Transactions (May 2011), Rating Canadian ABCP (April 2011), Legal Criteria for Canadian Structured Finance (November 2010) and Swap Criteria for Canadian Structured Finance Transactions (November 2010), which can be found on our website under Methodologies.

The full report providing additional analytical detail is available by clicking on the link under Related Research at the right of the screen or by contacting us at info@dbrs.com.