DBRS Discontinues Remaining Classes of Schooner Trust, Series 2007-7

DBRS Limited (DBRS) has today discontinued the ratings on the Commercial Mortgage Pass-Through Certificates, Series 2007-7 issued by Schooner Trust, Series 2007-7 (the Trust), as the Trust received significant principal repayment proceeds with the June 2017 remittance. According to the DBRS “Rating North American CMBS Interest-Only Certificates” methodology, the notional class, Class XC, references the most junior-rated class of bonds and since only the unrated Class M remains with an outstanding balance of $5.0 million, DBRS has discontinued the rating on Class XC. All other classes have been discontinued due to repayment. This concludes DBRS’s surveillance of this transaction.

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 principal methodology is CMBS North American Surveillance (March 2017), which can be found on dbrs.com under Methodologies.

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