DBRS Rates Goldfish Master Issuer

DBRS, Inc. (DBRS) has today rated the Series 2010-2 notes issued by Goldfish Master Issuer B.V. (Goldfish). The proceeds of the Series 2010-2 notes are used to fully redeem Class A4 of Series 2010-1 and partially redeem the Class A0 of Series 2008-2. The ratings of AAA (sf) have been assigned to the Class A1, Class A2, and Class A3 notes.

Goldfish is a EUR25 billion, fully revolving continuous-issuance programme backed by standard prime Dutch mortgages originated by subsidiaries of ABN AMRO Bank N.V. 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. ABN AMRO Bank N.V. is a public limited liability company incorporated under Dutch law on April 9, 2009.

DBRS has also today confirmed the ratings of the Series 2007-1, Series 2009-3, Series 2009-4, 2009-5, and 2010-1 notes issued by Goldfish upon the issuance of the Series 2010-2 notes. The ratings of Classes A4 from Series 2010-1 have been discontinued.

Note:
All figures are in Euros unless otherwise noted.

The applicable methodology is Master European Residential Mortgage-Backed Securities Rating Methodology, which can be found on our website under Methodologies

The full report providing additional analytical detail is available by clicking on the link below or by contacting us at info@dbrs.com.