DBRS Assigns Provisional Rating of R-1 (high) (sf) to Clarity Trust Series A, Class A Notes

DBRS Limited (DBRS) has today assigned a provisional rating of R-1 (high) (sf) to the Series A, Class A Notes (the Notes) to be issued by Clarity Trust (the Trust). Clarity Trust is a new conduit initiated by its financial services agent, National Bank Financial Inc.

The provisional rating has been assigned on the basis of a review by DBRS of trust documentation and two residential mortgage transactions to be entered into by the Trust. One of the transactions will consist of both insured and conventional residential mortgages and the other will consist of insured residential mortgages. DBRS has assigned a transaction credit assessment of AAA to each of the two transactions to be entered by the Trust, and as a result, it has assigned a provisional rating of R-1 (high) (sf) to the Notes.

When the Trust enters into the above-mentioned transactions, DBRS will complete a final transaction assessment of each and will determine the final rating of the Notes. At that time, a Transaction Summary for each transaction entered into by the Trust will be released, providing further details about each transaction that will back the Notes.

Notes:
All figures are in Canadian unless otherwise noted.

The applicable methodologies are Rating Canadian ABCP and Rating Canadian Residential Mortgage-Backed Securities (RMBS) Transactions, each of which can be found at www.dbrs.com.
The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.