Credit Rating Report

SAFE Trust, SOUND Trust, STABLE Trust, and SURE Trust, Transaction 103 Summary

ABCP

Summary

DBRS Limited (DBRS Morningstar) confirmed the Senior Short-Term Notes, Series 1996-1 of SAFE Trust, Senior Short-Term Notes, Series 1998-1 of SOUND Trust, Senior Short Term Notes, Series 2015-1 of SURE Trust, and Senior Short Term Notes, Series 2018-1 of STABLE Trust (collectively, the Trusts) at R-1 (high) (sf). The rating confirmations are pursuant to the inclusion of a new transaction (Transaction 103) into the Trusts on December 21, 2023.

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