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

DBRS Limited (DBRS) has today confirmed the Senior Short-Term Asset-Backed Notes of Merit Trust and Zeus Receivables Trust (collectively, the Trusts) at R-1 (high) (sf). The rating confirmation is pursuant to the inclusion of a new transaction (Transaction 73) to the Trusts on May 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 a transaction summary report providing details of Transaction 73, which consists of a portfolio of conventional residential mortgages originated by a credit union in British Columbia.

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 Residential Mortgages, Home Equity Lines of Credit and Reverse Mortgages, Rating Canadian ABCP and Related Enhancement Features, Legal Criteria for Canadian Structured Finance, Derivatives Criteria for Canadian Structured Finance and Operational Risk Assessment and Residential Mortgage Servicer Evaluation for Canadian Structured Finance, which can be found on our website under Methodologies.