DBRS Finalizes Rating of R-1 (high) (sf) on Clarity Trust Series A, Class A Notes

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

The final rating has been assigned on the basis of a review by DBRS of trust documentation and a residential mortgage transaction entered into by the Trust, which consists of both insured and conventional residential mortgages. DBRS has assigned a transaction credit assessment of AAA to the underlying transaction entered into by the Trust and, as a result, it has assigned a final rating of R-1 (high) (sf) to the Notes. For more information on the residential mortgage transaction, please see the Transaction Summary by clicking on the link under Related Research at the right of the screen.

Notes:
All figures are in Canadian unless otherwise noted.

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.

The applicable methodologies are Rating Canadian ABCP (September 2012) and Rating Canadian Residential Mortgage-Backed Securities (RMBS) Transactions (November 2011), which can be found on our website under Methodologies.