DBRS Morningstar Updates Transaction Summary 82 for SAFE Trust

DBRS Limited (DBRS Morningstar) released an updated Transaction Summary report that provides details on Transaction 82 of SAFE Trust, which consists of a secured loan backed by a security interest in a portfolio of unsecured consumer loan receivable contracts originated by a consumer financing company operating in Canada. The update reflects an increase to available credit enhancement.

DBRS Morningstar considered additional analyses and, where appropriate, additional stresses to expected performance as a result of the global efforts to contain the spread of the Coronavirus Disease (COVID-19). On March 17, 2021, the DBRS Morningstar Sovereigns group published its updated outlook on the impact of the Coronavirus Disease (COVID-19) on key economic indicators for the 2021–22 time frame. The initial outlook was published on April 16, 2020 and has been updated periodically since. For details see https://www.dbrsmorningstar.com/research/375376. 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 can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.

Notes:
The principal methodologies are Rating Canadian Structured Finance Transactions (April 13, 2021) and Rating Canadian ABCP and Related Enhancement Features (March 12, 2021), 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.

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

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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