DBRS Confirms SAFE Trust, Senior Short-Term Asset-Backed Notes, Series 1996-1 at R-1 (high) (sf)

DBRS has today confirmed the Senior Short-Term Asset-Backed Notes, Series 1996-1 of SAFE Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on an extension of the commitment period of Transaction 56 of the Trust on June 28, 2013.

As part of DBRS’s ongoing efforts to increase the transparency of reporting surrounding asset-backed commercial paper conduit activity, DBRS has today released an updated transaction summary report providing details of Transaction 56, which consists of a portfolio of dealer receivables originated by an auto finance company operating in Canada and secured by an underlying pool of new and used vehicles.

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 Floorplan Securitizations (May 2011), Rating Canadian ABCP (September 2012) and Legal Criteria for Canadian Structured Finance (September 2012), which can be found on our website under Methodologies.