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

DBRS Limited (DBRS) confirmed the Senior Short-Term Asset-Backed Notes of Merit Trust, Prime Trust and Zeus Receivables Trust and the Series A Notes of Banner Trust and Reliant Trust (collectively, Merit Trust, Prime Trust, Zeus Receivables Trust, Banner Trust and Reliant Trust are the Trusts) at R-1 (high) (sf). The rating confirmations are pursuant to the inclusion of a new transaction (Transaction 85) to the Trusts on April 16, 2019.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper conduit activity, DBRS has also released a transaction summary report providing details of Transaction 85, which consists of a portfolio of conventional residential mortgages originated by a credit union in Ontario.

Notes:
The principal methodologies are Rating Canadian Residential Mortgages, Home Equity Lines of Credit and Reverse Mortgages (November 2018) and Rating Canadian ABCP and Related Enhancement Features (March 2019), which can be found on 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 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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