DBRS Confirms Merit Trust, Prime Trust, Zeus Receivables Trust and Banner Trust at R-1 (high) (sf)

DBRS Limited (DBRS) has today confirmed the Senior Short-Term Asset-Backed Notes of Merit Trust, Prime Trust and Zeus Receivables Trust and the Series A Notes of Banner Trust (collectively with Merit Trust, Prime Trust and Zeus Receivables Trust, the Trusts) at R-1 (high) (sf). The rating confirmations are pursuant to certain amendments made to the program documents for Transaction 60 in the Trusts on April 29, 2015.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper (ABCP) conduit activity, DBRS has also released an updated transaction summary report providing details of Transaction 60, which consists of a portfolio of conventional and insured residential mortgages originated by a Schedule I bank and its subsidiary in Canada.

Note:
The applicable methodologies are Rating Canadian Residential Mortgages, Home Equity Lines of Credit and Reverse Mortgages, Rating Canadian ABCP and Related Enhancement Features, 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.