DBRS Confirms SOUND Trust Senior Short-Term Notes, Series 1998-1 at R-1 (high) (sf)

DBRS has today confirmed the rating on the Senior Short-Term Notes, Series 1998-1 of SOUND Trust (the Trust) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction (Transaction 61) to the Trust on May 27, 2014.

As part of DBRS’s ongoing efforts to increase the transparency of reporting ABCP conduit activity, DBRS has today released a transaction summary report providing details of Transaction 61, which, secured by a Collateral Note, backed a portfolio of automobile, sport utility vehicle and light truck retail auto leases originated by a captive auto finance company operating in Canada.

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 Canadian Auto Retail Loan and Lease Securitizations, 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.