DBRS Discontinues Remaining Classes of Real Estate Asset Liquidity Trust, Series 2007-1

DBRS Limited (DBRS) discontinued the ratings on the Commercial Mortgage Pass-Through Certificates, Series 2007-1 issued by Real Estate Asset Liquidity Trust, Series 2007-1 (the Trust), as the Trust received significant principal repayment proceeds with the August 2017 remittance, which resulted in the repayment of the last remaining principal class rated by DBRS, Class L.

According to the DBRS “Rating North American CMBS Interest-Only Certificates” methodology, the notional classes, Class XC-1 and Class XC-2, reference the most junior-rated class of bonds. As only the unrated Class M remains, with an outstanding principal balance of $3.1 million with the August 2017 remittance, DBRS has discontinued the ratings on Class XC-1 and Class XC-2. Class L has 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.

The principal methodology is Rating North American CMBS Interest-Only Certificates, which can be found on dbrs.com under Methodologies.

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

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

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