DBRS Updates Transaction Summary #45 of SAFE Trust and SOUND Trust

As part of DBRS Limited’s (DBRS) ongoing efforts to increase the transparency of reporting on asset-backed commercial paper (ABCP) conduit activity, DBRS has released an updated Transaction Summary report providing details of Transaction #45 under SAFE Trust and SOUND Trust, which consists of a portfolio of mostly open-ended and some closed-ended lease receivables, financing fleets of individual cars, trucks and equipment. The changes to the report reflect amendments made to the program primarily related to obligor concentration limits and a reduction in the credit enhancement available.

Notes
The applicable methodologies are Rating Canadian Auto Fleet Lease Transactions, 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.