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

DBRS has today confirmed the Short-Term ABN, Series 1, Class A Notes of Bay Street Funding Trust and the Asset-Backed CP Promissory Notes of King Street Funding Trust (the Trusts) at R-1 (high) (sf). The rating confirmation is pursuant to the inclusion of a new transaction (Transaction 43) in the Trusts on February 22, 2013.

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 providing details of Transaction 43, which consists entirely of 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, 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.

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.