DBRS Morningstar Updates Prime Trust, Merit Trust, Banner Trust and Zeus Receivables Trust Transaction 79

DBRS Limited (DBRS Morningstar) released an updated Transaction Summary report providing details of Transaction 79 in Prime Trust, Merit Trust, Banner Trust, and Zeus Receivables Trust, which consists of a portfolio of fixed-rate monthly, quarterly, semiannual, and annual pay lease and loan contracts secured by primarily new small and midticket equipment. The update reflects an extension of the program by two years and a decrease to the Program Limit to $400 million.

DBRS Morningstar considered additional analyses and, where appropriate, additional adjustments to expected performance as a result of the global efforts to contain the spread of the Coronavirus Disease (COVID-19) pandemic. DBRS Morningstar initially published macroeconomic scenarios on April 16, 2020. The scenarios were updated on December 2, 2020, and reflect the updated scenarios in DBRS Morningstar’s rating analysis. For details see https://www.dbrsmorningstar.com/research/370672. DBRS Morningstar’s analysis considered impacts consistent with the moderate scenario in the referenced commentary.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The principal methodologies are Rating Canadian Equipment Finance Securitization Transactions (October 26, 2020) and Rating Canadian ABCP and Related Enhancement Features (March 18, 2020), which can be found on dbrsmorningstar.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.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

The transaction summary is available at www.dbrsmorningstar.com.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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