DBRS Confirms SAFE Trust and SURE Trust at R-1 (high) (sf)

DBRS Limited (DBRS) has today confirmed its ratings on the Senior Short-Term Asset-Backed Notes, Series 1996-1 issued by SAFE Trust and the Senior Short Term Notes, Series 2015-1 issued by SURE Trust at R-1 (high) (sf). The rating confirmations are based on the addition of a new transaction to SAFE Trust and SURE Trust (Transaction 69) on October 3, 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 Transaction 69, which consists of a portfolio of fixed-rate and some floating-rate commercial loan and lease receivables secured by new and used small- and mid-ticket equipment.

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 Equipment Finance Securitization Transactions (October 2015), Rating Canadian ABCP and Related Enhancement Features (March 2016), Legal Criteria for Canadian Structured Finance (July 2016) and Derivatives Criteria for Canadian Structured Finance (July 2016), 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.