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

DBRS has today confirmed the asset-backed commercial paper (ABCP) notes of Merit Trust, Prime Trust and Zeus Receivables Trust (collectively, the Trusts) at R-1 (high) (sf). The rating confirmations are based on the addition of a new transaction (Transaction 68) to the Trusts on May 22, 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 68, which consists of a portfolio of automobile, sport-utility vehicle and light truck retail auto leases originated by a captive auto finance company operating in Canada.

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 Lease Securitizations, 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.