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

DBRS Limited (DBRS) has today assigned a final 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 final rating has been assigned on the basis of a review by DBRS of documentation relating to the funding by Banner Trust of two residential mortgage transactions (including insured and conventional mortgage loans), one insured home equity line of credit transaction and one trade receivables transaction. 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 final rating of R-1 (high) (sf) to the Notes. Transaction Summaries for each transaction entered into by the Trust in connection with the assignment of the final rating on the Notes are attached.

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.