DBRS Confirms TABS 2005-2 Oakville Limited Ratings

DBRS has today confirmed the ratings of the Class A-1 Notes, Class A-2 Notes and Class B Notes issued by TABS 2005-2 Oakville Limited (the Transaction) at C (sf).

The Transaction is a managed cash flow collateralized debt obligation of asset-backed securities (ABS) that consists primarily of U.S. residential mortgage-backed securities. All of the underlying ABS were originally investment grade, with most being rated BBB or BBB (low).

Since the last rating confirmation, the overall credit quality of the remaining securities has not changed substantially. DBRS expects that the Class A-1 Notes will suffer a partial loss of principal, and that the Class A-2 Notes and Class B Notes will not receive any return of initial principal over the remaining term of the Transaction.

DBRS will release further updates on www.dbrs.com as appropriate.

Notes:
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 Methodology for CLOs and CDOs of Large Corporate Credit (January 2014) and Canadian Surveillance Methodology for CDOs of Large Corporate Credit (June 2013), which can be found on our website under Methodologies.