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

DBRS Limited (DBRS) has today confirmed the Senior Short-Term Notes, Series 1998-1 of SOUND Trust (the Trust) at R-1 (high) (sf). The rating confirmation is pursuant to the inclusion of a new transaction (Transaction 62) in the Trust on June 25, 2015.

As part of DBRS’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper conduit activity, DBRS has also released a Transaction Summary report providing details of Transaction 62, which is secured by a portfolio of automobile, compact-utility vehicle, 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 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 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.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.