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

DBRS has confirmed the Prime Trust, Senior Short-Term Asset-Backed Notes at R-1 (high) (sf). The rating confirmation is based on an amendment to extend the commitment termination date in respect of Transaction 25, effective June 28, 2013.

As part of DBRS’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper (ABCP) conduit activity, DBRS has released an updated Transaction Summary report providing details of Transaction 25, which consists of a portfolio of primarily open-end lease receivables, financing corporate fleets of passenger cars, trucks and equipment.

Notes:
The applicable methodologies are Rating Canadian Auto Fleet Lease 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.