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 at R-1 (high) (sf) (collectively, the Trusts). The rating confirmation is pursuant to the inclusion of a new transaction (Transaction 33) in the Trusts on August 16, 2012.

As part of DBRS’s ongoing efforts to increase transparency of reporting asset-backed commercial paper (ABCP) conduit activity, DBRS has also released a Transaction Summary report for Transaction 33 in the Trusts. These reports provide details of the above-mentioned transactions, which consist of a portfolio of conventional and insured residential mortgages originated by a mortgage finance company operating in Canada.

Notes:
The applicable methodologies are Rating Canadian Residential Mortgage-Backed Securities (RMBS) Transactions (November 2011), Rating Canadian ABCP (September 2012), Legal Criteria for Canadian Structured Finance (September 2012) and Hedge Counterparty Criteria for Canadian Structured Finance Transactions (September 2012), which can be found on our website under Methodologies.