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

DBRS Limited (DBRS) confirmed its ratings on the Series A Notes of Banner Trust and Reliant Trust and the Senior Short-Term Asset-Backed Notes of Merit Trust, Prime Trust and Zeus Receivables Trust (collectively, with Banner Trust, Reliant Trust, Merit Trust and Prime Trust, the Trusts) at R-1 (high) (sf). The rating confirmations are based on the addition of a new transaction to the Trusts (Transaction 84) on January 30, 2019.

As part of its ongoing efforts to increase the transparency of reporting asset-backed commercial paper conduit activity, DBRS released a transaction summary report providing details of Transaction 84, which consists of a portfolio of fixed-rate retail loan contracts secured by new and used passenger cars, sport-utility vehicles and light trucks.

Notes:
The principal methodologies are Rating Canadian Auto Retail Loan and Lease Securitizations (October 2018) and Rating Canadian ABCP and Related Enhancement Features (March 2018), 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.

Please see the related appendix for additional information regarding the sensitivity of assumptions used in the rating process.

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.

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