DBRS Morningstar Assigns AAA (sf) Rating to Fusion Trust II’s Series B Note

DBRS Limited (DBRS Morningstar) assigned a rating of AAA (sf) to the Series B Note (the Note) issued by Fusion Trust II. The repayment of the Note is supported by a portfolio of uninsured residential mortgages originated by a federally regulated financial institution in Canada.

DBRS Morningstar assigned this rating at the request of the purchaser of the Note for regulatory purposes.

ESG CONSIDERATIONS
There were no environmental, social, or governance (ESG) factors or considerations with a significant or relevant impact on the credit rating.

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 Rating Canadian Residential Mortgages, Home Equity Lines of Credit and Reverse Mortgages (November 4, 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 [email protected].

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