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 addition of assets and certain amendments to Transaction 64 in the Trusts on July 20, 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 64, which consists of a portfolio of insured residential mortgages and NHA-MBS originated or acquired by a large mortgage finance company operating in Canada.

Notes:
The applicable methodologies are Rating Canadian Residential Mortgage-Backed Securities (RMBS) Transactions (November 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.