Bay Street Funding Trust: Rating Report

DBRS Limited (Morningstar DBRS) confirmed its rating of R-1 (high) (sf) on the Short-Term ABN, Series 1, Class A Notes issued by Bay Street Funding Trust as part of its annual review of publicly rated, asset-backed commercial paper conduits. The rating confirmation is part of Morningstar DBRS's continued effort to provide timely credit rating opinions and increased transparency to market participants.