DBRS Discontinues Remaining Classes of Merrill Lynch Financial Assets Inc., Series 2002-Canada 8

DBRS Limited (DBRS) discontinued the ratings on the Commercial Mortgage Pass-Through Certificates, Series 2002-Canada 8 issued by Merrill Lynch Financial Assets Inc., Series 2002-Canada 8 (the Trust), as the Trust received significant principal repayment proceeds with the April 2018 remittance, which resulted in the repayment of the remaining principal class rated by DBRS, Class K.

According to the DBRS “Rating North American CMBS Interest-Only Certificates” methodology, the notional classes, Class X-1 and Class X-2, reference the most junior-rated class of bonds. As the unrated Class L is the only remaining principal class with an outstanding principal balance of $8.0 million as of the April 2018 remittance, DBRS has discontinued the rating on Class X-1 and Class X-2. Class K 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 principal methodology is Rating North American CMBS Interest-Only Certificates, which can be found on dbrs.com under Methodologies. For a list of the Structured Finance related methodologies that may be used during the rating process, please see the DBRS Global Structured Finance Related Methodologies document on www.dbrs.com. Please note that not every related methodology listed under a principal Structured Finance asset class methodology may be used to rate or monitor an individual structured finance or debt obligation.

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 under Related Documents or by contacting us at info@dbrs.com.

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 for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

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