DBRS Confirms Bay Street Funding Trust and King Street Funding Trust at R-1 (high) (sf)

DBRS has today confirmed the asset-backed commercial paper (ABCP) notes of Bay Street Funding Trust and King Street Funding Trust at R-1 (high) (sf). The rating confirmations are based on the addition of a new transaction (Transaction 42) to the conduits on February 1, 2013.

As part of DBRS’s ongoing efforts to increase the transparency of reporting ABCP conduit activity, DBRS has today released a transaction summary report providing details of Transaction 42, which consists of short-term, non-interest-bearing, trade receivables arising from the day-to-day operations of a transportation company.

Notes:
The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodologies are Rating Canadian Trade Receivables Securitization Transactions (April 2011), Rating Canadian ABCP (September 2012) and Legal Criteria for Canadian Structured Finance (September 2012), which can be found on our website under Methodologies.