DBRS Morningstar Assigns R-1 (high) (sf) Rating to Canuck Premium Corporation’s Series 2022-1, CAPCo Class A Note
OtherDBRS Limited (DBRS Morningstar) assigned a rating of R-1 (high) (sf) to the Series 2022-1 Debt Securities, CAPCo Class A Note (the Note) issued by Canuck Premium Corporation. The repayment of the Note is supported by a portfolio of insurance premium loans. The loans are secured by the cash surrender value of permanent life insurance policies issued by highly rated Canadian insurance companies and are originated by Canuck Finance Corp., a finance company operating in Canada.
This rating is assigned at the request of the purchaser of the Note for regulatory purposes.
ESG CONSIDERATIONS
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.
Notes:
The principal methodology is North American Structured Finance Flow-Through Ratings (December 15, 2021), which can be found on dbrsmorningstar.com under Methodologies & Criteria.
The DBRS Morningstar Sovereign group releases baseline macroeconomic scenarios for rated sovereigns. DBRS Morningstar analysis considered impacts consistent with the baseline scenarios as set forth in the following report: https://www.dbrsmorningstar.com/research/384482.
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 info@dbrsmorningstar.com.
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