DBRS Morningstar Confirms Rating on HT Credit LP’s Rated Obligations at AAA (sf)

DBRS Limited (DBRS Morningstar) confirmed the rating of AAA (sf) on the repayment of the Rated Obligations of HT Credit LP under a credit facility (the Credit Facility) provided by a syndicate of lenders (the Lenders). As of the date of this rating action, the Credit Facility has a limit of $500 million. The Rated Obligations are backed by a portfolio of uninsured residential mortgages originated by a federally regulated trust company in Canada. Rated Obligations are as defined in the Credit Facility.

The rating was assigned at the request of the Lenders for regulatory purposes.

DBRS Morningstar initially published macroeconomic scenarios on April 16, 2020. The scenarios were updated on June 1, 2020, and are reflecting the updated scenarios in our rating analysis. The updated scenarios can be found at: https://www.dbrsmorningstar.com/document/361867.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The principal methodology is the Master Canadian Structured Finance Surveillance Methodology (June 28, 2019), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

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

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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