DBRS Assigns Provisional Rating of R-1 (high) (sf) to Reliant Trust Series A Notes

DBRS Limited (DBRS) assigned a provisional rating of R-1 (high) (sf) to the Series A Notes (the Notes) to be issued by Reliant Trust (the Trust). Reliant Trust is an asset-backed commercial paper conduit initiated by its financial services agent, TD Securities Inc.

The provisional rating was assigned based on DBRS’s review of the Trust’s documentation, which is consistent with DBRS’s applicable methodologies, including its liquidity agreement that meets the Global Liquidity Standard indicated in DBRS’s “Rating Canadian ABCP and Related Enhancement Features” methodology.

The provisional rating on the Notes was also assigned on the basis of one residential mortgage and insured home equity line of credit transaction, one insured home equity line of credit transaction and one auto loan transaction, each to be entered into by the Trust. DBRS assigned a transaction credit assessment of AAA to each transaction to be entered by the Trust and, as a result, DBRS assigned a provisional rating of R-1 (high) (sf) to the Notes.

When the Trust enters into these transactions, DBRS will complete a final transaction assessment of each transaction to determine the final rating on the Notes. At that time, a transaction summary for each transaction will be released, providing further details about each transaction that will back the Notes.

Notes:
The principal methodologies are Rating Canadian ABCP and Related Enhancement Features, Rating Canadian Residential Mortgages, Home Equity Lines of Credit and Reverse Mortgages and Rating Canadian Auto Retail Loan and Lease Securitizations, which can be found on www.dbrs.com under Methodologies & Criteria.

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 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.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.