King Street Funding Trust and Bay Street Funding Trust, Transaction 60 Summary

DBRS Limited (DBRS Morningstar) released an updated Transaction Summary report that provides details on Transaction 60 of King Street Funding Trust and Bay Street Funding Trust, which is secured by a loan supported by a portfolio of rental contracts for primarily residential and some commercial water heaters; water treatment equipment; and heating, ventilation, and air conditioning equipment. The update reflects several amendments made to the program, some of which include an extension of the program by one year, an increase in the program commitment amount, and an increase to the required level of subordination and overcollateralization.