DBRS Rates Goldfish Master Issuer

DBRS, Inc. (DBRS) has today rated all series of notes issued by Goldfish Master Issuer B.V. (Goldfish). The ratings of AAA, AA (low) and A (high) have been assigned to the Class A, Class B and, Class C notes, respectively. Goldfish is a EUR25 billion, fully revolving continuous-issuance programme backed by standard prime Dutch mortgages originated by subsidiaries of Fortis Bank Nederland (FBN) with the benefit of the Nationale Hypotheek Garantie (NHG). The NHG guarantee is provided by a Dutch government sponsored institution, the WEW – Homeownership Guarantee Fund. The guarantee covers for potential losses of mortgage loans after the foreclosure process. FBN was acquired by the Dutch government on October 3, 2008, and engages in business activities separate and independent from its previous parent, Fortis Bank SA/NV.

Note:
All figures are in Euros unless otherwise noted.

The applicable methodologies are U.K. Residential Mortgage Credit Criteria and U.K. Residential Mortgage Loan Analysis Criteria: Credit, Prepayment and Loan Aggregation, which can be found on our website under Methodologies, with adjustments made for the Dutch mortgages.

This is a Structured Finance rating.