DBRS Confirms Ridge Trust Series A Notes at R-1 (high) (sf)

DBRS Limited (DBRS) confirmed the Series A Notes of Ridge Trust (the Trust) at R-1 (high) (sf). The rating confirmation is pursuant to an amendment to Transaction 18 allowing the Trust to purchase conventional mortgages and no longer permitting the purchase of insured mortgages.

As part of DBRS’s ongoing efforts to increase transparency of reporting asset-backed commercial paper conduit activity, DBRS also released an updated transaction summary report providing details of Transaction 18, which consists of a portfolio of conventional residential mortgages originated by a large mortgage finance company operating in Canada.

Notes:
All figures are in Canadian dollars unless otherwise noted.

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 under Related Documents or by contacting us at info@dbrs.com.

The principal 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 Assessments for Canadian Structured Finance, which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

The full report providing additional analytical detail is available by clicking on the link under Related Documents below or by contacting us at info@dbrs.com.