DBRS Confirms Senior Short-Term Asset-Backed Notes Issued by Merit Trust, Prime Trust and Zeus Receivables Trust and Series A Notes Issued by Banner Trust at R-1 (high) (sf)

DBRS Limited (DBRS) has today confirmed the ratings on the Senior Short-Term Asset-Backed Notes issued by Merit Trust, Prime Trust and Zeus Receivables Trust as well as the rating on Series A Notes issued by Banner Trust at R-1 (high) (sf). The rating confirmation is in connection with the addition of a new transaction (Transaction #71) to the trusts.

As part of DBRS’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper conduit activity, DBRS has released a Transaction Summary report providing details of Transaction #71 under the trusts, which consists of a portfolio of dealer receivables originated by an auto finance company operating in Canada and secured by an underlying pool of new and used vehicle receivables.

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 Floorplan Securitizations (October 2014), Rating Canadian ABCP and Related Enhancement Features (April 2015) and Legal Criteria for Canadian Structured Finance (August 2014), which can be found on our website under Methodologies.

The full report providing additional analytical detail is available by clicking on the link under Related Research at the right of the screen or by contacting us at info@dbrs.com