DBRS Morningstar Updates Transaction Summary 55 of SAFE Trust, SOUND Trust, SURE Trust, and STABLE Trust

DBRS Limited (DBRS Morningstar) released an updated Transaction Summary report providing the details of Transaction 55 in SAFE Trust, SOUND Trust, SURE Trust, and STABLE Trust, which consists of a portfolio of fixed-rate monthly, quarterly, semi-annual, and annual pay lease and loan contracts secured by primarily new small and mid-ticket equipment. The update reflects a change in the definition of minimum excess spread.

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/dbrs-morningstar-criteria-approach-to-environmental-social-and-governance-risk-factors-in-credit-ratings.

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

The principal methodology is Rating Canadian Equipment Finance Securitization Transactions (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/baseline-macroeconomic-scenarios-application-to-credit-ratings.

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

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