DBRS Confirms All Ratings of Canada Housing Trust™ No. 1

DBRS Limited (DBRS) has today confirmed all of the outstanding rated notes issued by Canada Housing TrustTM No. 1 (the Bonds) as follows:

-- 4.10% Canada Mortgage Bonds™, Series 23 at AAA
-- 4.10% Canada Mortgage Bonds™, Series 23c at AAA
-- 3.75% Canada Mortgage Bonds™, Series 30 at AAA
-- Floating Rate Canada Mortgage Bonds™, Series 34 at AAA
-- 3.15% Canada Mortgage Bonds™, Series 35 at AAA
-- 3.35% Canada Mortgage Bonds™, Series 36 at AAA
-- 2.45% Canada Mortgage Bonds™, Series 37 at AAA
-- Floating Rate Canada Mortgage Bonds™, Series 38 at AAA
-- 2.75% Canada Mortgage Bonds™, Series 39 at AAA
-- 3.80% Canada Mortgage Bonds™, Series 40 at AAA
-- 2.75% Canada Mortgage Bonds™, Series 41 at AAA
-- Floating Rate Canada Mortgage Bonds™, Series 42 at AAA
-- 1.85% Canada Mortgage Bonds™, Series 43 at AAA
-- Floating Rate Canada Mortgage Bonds™, Series 44 at AAA
-- 2.65% Canada Mortgage Bonds™, Series 45 at AAA
-- 2.05% Canada Mortgage Bonds™, Series 46 at AAA
-- Floating Rate Canada Mortgage Bonds™, Series 47 at AAA
-- 2.40% Canada Mortgage Bonds™, Series 48 at AAA
-- 1.70% Canada Mortgage Bonds™, Series 49 at AAA
-- Floating Rate Canada Mortgage Bonds™, Series 50 at AAA
-- 1.75% Canada Mortgage Bonds™, Series 51 at AAA
-- 2.35% Canada Mortgage Bonds™, Series 52 at AAA
-- Floating Rate Canada Mortgage Bonds™, Series 53 at AAA
-- 2.05% Canada Mortgage Bonds™, Series 54 at AAA
-- 3.15% Canada Mortgage Bonds™, Series 55 at AAA
-- 2.35% Canada Mortgage Bonds™, Series 56 at AAA
-- Floating Rate Canada Mortgage Bonds™, Series 57 at AAA
-- 2.90% Canada Mortgage Bonds™, Series 58 at AAA
-- 1.95% Canada Mortgage Bonds™, Series 59 at AAA
-- Floating Rate Canada Mortgage BondsTM, Series 60
-- 2.00% Canada Mortgage BondsTM, Series 61
-- 2.55% Canada Mortgage BondsTM, Series 62
-- Floating Rate Canada Mortgage BondsTM, Series 63
-- 1.20% Canada Mortgage BondsTM, Series 64

The trends remain Stable.

The confirmation is part of DBRS’s continued effort to provide timely credit rating opinions and increased transparency to market participants.

The Bonds are backed by a full guarantee (the CMHC Guarantee) provided by the Canada Mortgage and Housing Corporation (CMHC) in its capacity as an agent of Her Majesty in Right of Canada. The Bonds are consequently rated at the same level as CMHC’s senior unsecured debt rating of AAA, which mirrors DBRS’s Canadian sovereign rating of AAA for the Government of Canada’s domestic and foreign currency obligations. As an agent of Her Majesty in Right of Canada, CMHC’s debt obligations and guarantees are direct obligations of the Government of Canada. The AAA rating is based solely on the CMHC Guarantee without any review of the underlying collateral as such information is not provided to DBRS.

Notes:
All figures are in Canadian dollars 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.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The applicable methodologies are Canadian Structured Finance Surveillance Methodology (May 2014), Structured Finance Flow-Through Ratings (January 2015) and Legal Criteria for Canadian Structured Finance (August 2014), which can be found on our website under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.