DBRS Morningstar Updates Transaction Summary 70 of Merit Trust, Prime Trust, Zeus Receivables Trust, Banner Trust, and Reliant Trust

DBRS Limited (DBRS Morningstar) released an updated transaction summary report that provides details on Transaction 70 of Merit Trust, Prime Trust, Zeus Receivables Trust, Banner Trust, and Reliant Trust, which is secured by a Collateral Note backed by a portfolio of automobile, sport-utility vehicle, and light-truck retail auto leases originated by a captive auto finance company operating in Canada. The update reflects a one-year extension of the program and a change to available credit enhancement.

No Environmental, Social, or Governance (ESG) factors had a significant or relevant effect on the credit analysis.

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/396929.

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

The principal methodology is Rating Canadian Auto Retail Loan and Lease Securitizations (October 27, 2021), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

The DBRS Morningstar Sovereign group releases baseline macroeconomic scenarios for rated sovereigns. DBRS Morningstar analysis considered impacts consistent with the baseline scenarios as set forth in the following report: https://www.dbrsmorningstar.com/research/384482.

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].

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

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