DBRS Assigns Provisional Rating of R-1 (high) (sf) to Banner Trust Series A Notes

DBRS Limited (DBRS) has today assigned a provisional rating of R-1 (high) (sf) to the Series A Notes (the Notes) to be issued by Banner Trust (the Trust). Banner Trust is a new asset-backed commercial paper conduit initiated by its financial services agent, TD Securities Inc.

The provisional rating has been assigned on the basis of a review by DBRS of trust documentation and two residential mortgage transactions (including insured and conventional mortgage loans), one insured home equity line of credit transaction and one trade receivables transaction each to be entered into by the Trust. DBRS has assigned a transaction credit assessment of AAA to each of the transactions to be entered by the Trust, and as a result, it has assigned a provisional rating of R-1 (high) (sf) to the Notes.

When the Trust enters into the above-mentioned transactions, DBRS will complete a final transaction assessment of each to determine the final rating of the Notes. At that time, a Transaction Summary for each transaction entered into by the Trust will be released, providing further details about each transaction that will back the Notes.

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

The applicable methodologies are Rating Canadian ABCP, Rating Canadian Residential Mortgage-Backed Securities (RMBS) Transactions, Rating Canadian Home Equity Lines of Credit (HELOCs) and Rating Canadian Trade Receivables Securitization Transactions, each of which can be found at www.dbrs.com.

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.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.