DBRS Confirms and Downgrades Ratings on Class I Swaps Issued by Claris IV - Series 36

DBRS, Inc. (“DBRS”) has today confirmed ratings on the Class I-A Swap and Class I-B Swap at BBB (sf) and BB (high) (sf), respectively, and downgraded the rating on the Class I-C Swap issued by Claris IV Limited Series 36 from B (high) (sf) to B (sf). These rating actions reflect the recent performance of the underlying transaction. The DBRS ratings on the Class I-A Swap, Class I-B Swap, and Class I-C Swap address the probability of breaching their respective attachment points as defined in the transaction documents at or prior to their maturity dates.

The ratings have also been removed from the Under Review with Developing Implications designation. These actions reflect the conclusion of the review to determine the impact of the updated methodology “Rating Global Structured Finance CDO Restructurings”.

The principal methodology is Rating Global Structured Finance CDO Restructurings which can be found on our website under Methodologies.

This credit rating has been issued outside the European Union (EU) and may be used for regulatory purposes by financial institutions in the EU.

Note:
All figures are in U.S. dollars unless otherwise noted.