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

DBRS has confirmed the Senior Short-Term Notes, Series 1998-1 of SOUND Trust at R-1 (high) (sf). The rating confirmation is based on amendments made in respect of Transaction 45, effective August 31, 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 45, which consists of a portfolio of mostly open-ended and some closed-end 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.