DBRS Confirms Merit Trust and Zeus Receivables Trust at R-1 (high) (sf)

DBRS has today confirmed the Senior Short-Term Asset-Backed Notes of Merit Trust and Zeus Receivables Trust (collectively, the Trusts) at R-1 (high) (sf). The rating confirmation is pursuant to the change of seller’s ownership and related performance guarantor for Transaction 60 in the Trusts on August 1, 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 60, which consists of a portfolio of conventional and insured residential mortgages originated by a mortgage finance company operating in Canada.

Note:
The applicable methodologies are Rating Canadian RMBS Transactions, 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.