DBRS Confirms Clarity Trust at R-1 (high) (sf)

DBRS has today confirmed the Series A, Class A Notes of Clarity Trust (the Trust) at R-1 (high) (sf). The rating confirmation is pursuant to the addition of a new transaction (Transaction 3) to the Trust on November 15, 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 a Transaction Summary report providing details of Transaction 3, 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 Derivatives Criteria for Canadian Structured Finance, 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.