DBRS Confirms Bay Street Funding Trust, Short-Term ABN, Series 1, Class A Notes at R-1 (high) (sf)

DBRS has today confirmed the Short-Term ABN, Series 1, Class A Notes (the Notes) of Bay Street Funding Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 44) to the Trust on May 17, 2013.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper (ABCP) conduit activity, DBRS has today released a Transaction Summary report providing details of Transaction 44, which consists of a portfolio of fixed-rate retail loan contracts secured by new and used automobiles, sport-utility vehicles and light trucks.

Notes:
All figures are in Canadian dollars unless otherwise noted.

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 Auto Loan Securitizations, Legal Criteria for Canadian Structured Finance, Rating Canadian ABCP and Hedge Counterparty Criteria for Canadian Structured Finance Transactions, which can be found on our website under Methodologies.