DBRS Confirms Merit Trust, Prime Trust, Zeus Receivables Trust and Banner Trust at R-1 (high) (sf)

DBRS Limited (DBRS) has today confirmed the Senior Short-Term Asset-Backed Notes of Merit Trust, Prime Trust and Zeus Receivables Trust and the Series A Notes of Banner Trust (collectively, with Merit Trust, Prime Trust and Zeus Receivables Trust, the Trusts) at R-1 (high) (sf). The rating confirmations are pursuant to the inclusion of a new transaction (Transaction 76) to the Trusts on June 22, 2016.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper (ABCP) conduit activity, DBRS has also released a transaction summary report providing details of Transaction 76, which consists of a portfolio of insured residential mortgages originated by a credit union in Ontario.

Notes:
The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodologies are Rating Canadian Residential Mortgages, Home Equity Lines of Credit and Reverse Mortgages; Rating Canadian ABCP and Related Enhancement Features; Legal Criteria for Canadian Structured Finance; Derivatives Criteria for Canadian Structured Finance; and Operational Risk Assessments for Canadian Structured Finance, which can be found on our website under Methodologies.