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

DBRS Limited (DBRS) confirmed its ratings on the Series A Notes issued by Canadian Master Trust (CMT) and the Series A Notes issued by Ridge Trust (Ridge) at R-1 (high) (sf). The rating confirmations are based on the addition of a new transaction to both CMT (Transaction 30) and Ridge (Transaction 29) on May 25, 2018.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper conduit activity, DBRS released a transaction summary report providing details of Transaction 30 and Transaction 29 that consist of a portfolio of fixed-rate retail loan contracts secured by new and used automobiles, sport-utility vehicles and light trucks.

Notes:
The principal methodologies are Rating Canadian Auto Retail Loan and Lease Securitizations (October 2017), Rating Canadian ABCP and Related Enhancement Features (March 2018), Legal Criteria for Canadian Structured Finance (July 2017) and Derivatives Criteria for Canadian Structured Finance (July 2017), which can be found on dbrs.com under Methodologies.

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

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.