DBRS Confirms Canadian Master Trust and Ridge Trust at R-1 (high) (sf)

DBRS Limited (DBRS) has today confirmed its ratings of the Series A Notes issued by Canadian Master Trust (CMT) and of the Series A Notes issued by Ridge Trust (Ridge) at R-1 (high) (sf). The rating confirmation is based on the addition of a new transaction to CMT (Transaction 28) and Ridge (Transaction 25) on March 18, 2016.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper conduit activity, DBRS has today released a transaction summary report providing details of Transactions 28 and 25, which consist of a portfolio of fixed-rate retail loan contracts secured by new and used automobiles, sport-utility vehicles and light trucks.

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 (October 2015), Rating Canadian ABCP and Related Enhancement Features (August 2015), Legal Criteria for Canadian Structured Finance (August 2015) and Derivatives Criteria for Canadian Structured Finance (August 2015), 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.