DBRS Confirms SAFE Trust Senior Short-Term Notes, Series 1996-1 at R-1 (high) (sf)

DBRS Limited (DBRS) has today confirmed the Senior Short-Term Notes, Series 1996-1 issued by SAFE Trust (the Trust) at R-1 (high) (sf). The rating confirmation is pursuant to the inclusion of a new transaction (Transaction 70) to the Trust on May 9, 2017.

As part of DBRS’s ongoing efforts to increase the transparency of reporting asset-backed commercial paper conduit activity, DBRS has also released a transaction summary report providing details of Transaction 70, which consists of a portfolio of primarily retail auto lease and some retail auto loan contracts secured by new and used passenger cars and sport-utility vehicles.

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 principal methodologies are Rating Canadian Auto Retail Loan and Lease Securitizations (October 2016), Rating Canadian ABCP and Related Enhancement Features (March 2017), Legal Criteria for Canadian Structured Finance (July 2016) and Derivatives Criteria for Canadian Structured Finance (July 2016), which can be found on dbrs.com under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.