DBRS Confirms R-1 (middle) (sf) Rating to White Point Funding, Inc. – Commercial Paper

DBRS, Inc. (“DBRS”) has today confirmed a rating of R-1 (middle) (sf) to the 4(2) Commercial Paper issued by White Point Funding, Inc. (“WP Funding”) sponsored by Royal Bank of Canada (“RBC”).

The rating is based on a surveillance review of WP Funding portfolio, along with its Program Wide Credit Enhancement in order to confirm its comprehensive risk profile.

The principal methodology is the Asset-Backed Commercial Paper Criteria Report: U.S. & European ABCP Conduits, which can be found on our website under Methodologies.

The sources of information used for this rating include parties involved in the rating, including but not limited to 20 Gates Management LLC. DBRS considers the information available to it for the purposes of providing this rating to be satisfactory.

Lead Analyst: Matthew La Capra
Rating Committee Chair: Jerry van Koolbergen
Initial Rating Date: January 6, 2006

Note:
All figures are in U.S. dollars unless otherwise noted.