DBRS Discontinues Ratings on Magellan Mortgages No. 5 & No. 6

DBRS Ratings Limited (DBRS) has discontinued its ratings on the Class A notes issued by Magellan Mortgages No. 5 Limited and Magellan Mortgages No. 6 Limited due to repayment of the notes. The Class A notes previously rated AA (high) (sf) are now rated Disc- Repaid. Additionally, DBRS removed the Class A notes from Under Review with Negative Implications (see “DBRS Ratings Limited Puts 47 Classes from 39 European RMBS Structured Finance Transactions Under Review with Negative Implications”, published on May 25, 2012).

Notes:
The applicable methodology is the Master European Structured Finance Surveillance Methodology, which can be found on our website under Methodologies.

Lead Analyst: Alastair Bigley
Rating Committee Chair: Claire Mezzanotte
Initial Rating Date: 27 February 2011