DBRS Confirms Prime Trust, Merit Trust, Banner Trust and Zeus Receivables Trust Notes at R-1 (high) (sf)

DBRS Limited (DBRS) has today confirmed the Senior Short-Term Asset-Backed Notes of Prime Trust (Prime), Senior Short-Term Asset-Backed Notes of Merit Trust (Merit), Series A Notes of Banner Trust (Banner) and Senior Short-Term Asset-Backed Notes of Zeus Receivables Trust (Zeus and, together with Prime, Merit and Banner, the Trusts) at R-1 (high) (sf). The rating confirmations are in connection with the addition of a new transaction (Transaction 79) to the Trusts on December 15, 2016.

As part of DBRS’s ongoing efforts to increase the transparency of reporting on asset-backed commercial paper conduit activity, DBRS has released an updated transaction summary report providing details of Transaction 79, which consists of a portfolio of fixed-rate monthly, quarterly, semi-annual and annual pay lease and loan contracts secured by primarily new 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, 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.