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

DBRS has today confirmed the Senior Short-Term Asset-Backed Notes of Merit Trust and Prime Trust (collectively, the Trusts) at R-1 (high) (sf). The rating confirmations are pursuant to the extension of the purchase period and other amendments made to Transaction 61 in the Trusts on June 26, 2013.

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 61, which consists of a portfolio of conventional and insured residential mortgages originated by a large financial services company operating 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.

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.