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

DBRS has today confirmed the Series A, Class A Notes of Fusion Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on amendments made to Transaction 11 of Fusion Trust, which extends the revolving period and allows for a one-time purchase of additional receivables into the pool.

As part of DBRS’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper (ABCP) conduit activity, DBRS has today released an updated Transaction Summary report providing details of Transaction 11, which consists of a portfolio of retail auto loans financing the purchase of primarily new and some used passenger cars, sport utility vehicles and light trucks. The retail loans were originated by an auto finance company operating in Canada.

Notes:
The applicable methodologies are Rating Canadian Auto Loan Securitizations, (January 2012), Rating Canadian ABCP (April 2011), Swap Criteria for Canadian Structured Finance Transactions (November 2010) and Legal Criteria for Canadian Structured Finance (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.