IE Staff
(September 13 – 16:45 ET) –
Dominion Bond Rating Service
rates Storm King Funding’s
asset-backed commercial paper
program at R1 (high).
Storm King Funding is Royal
Bank of Canada’s second go at
multi-asset, multi-seller
securitization, and DBRS says its
rating is based on RBC Dominion
Securities Ltd.’s experience is
such deals.
The company won’t purchase
assets other than from investment-
grade sellers unless it has DBRS’s
approval, and as long as the notes
are supported by appropriate
liquidity lines.
IE Staff
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