DBRS Morningstar Confirms Lakeshore Trust at R-1 (high) (sf), Releases Transaction Summary

DBRS Limited (DBRS Morningstar) confirmed the rating on the Series 1 Asset-Backed Commercial Paper Notes issued by Lakeshore Trust (the Trust) at R-1 (high) (sf). The rating confirmation is pursuant to the inclusion of a new transaction (Transaction 97) to the Trust on March 18, 2020.

As part of DBRS Morningstar’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper conduit activity, DBRS Morningstar has also released a transaction summary report providing details of Transaction 97, which consists of a portfolio of uninsured residential mortgages originated by a large mortgage finance company operating in Canada.

Notes:
The principal methodologies are Rating Canadian Residential Mortgages, Home Equity Lines of Credit and Reverse Mortgages (November 2019) and Rating Canadian ABCP and Related Enhancement Features (March 2020), which can be found on dbrs.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

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 [email protected].

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar 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 [email protected].

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