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

DBRS has today confirmed the Senior Short-Term Asset-Backed Notes of Merit Trust, Prime Trust and Zeus Receivables Trust (collectively, the Trusts) at R-1 (high) (sf). The rating confirmation is pursuant to certain amendments made to the program documents for Transaction 60 in the Trusts on October 17, 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 Schedule I bank and its subsidiary in Canada.

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