Burlington Mortgages No.1 DAC: Rating Report

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  16-Mar-20	Class A1 Notes	AAA (sf)	--	New Rating	UK U
  16-Mar-20	Class A2 Notes	AAA (sf)	--	New Rating	UK U
  16-Mar-20	Class B Notes	AA (low) (sf)	--	New Rating	UK U
  16-Mar-20	Class C Notes	A (low) (sf)	--	New Rating	UK U
  16-Mar-20	Class D Notes	BBB (low) (sf)	--	New Rating	UK U
  16-Mar-20	Class E Notes	BB (sf)	--	New Rating	UK U

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