DBRS Morningstar Updates Transaction Summary 30 of Ridge Trust

DBRS Limited (DBRS Morningstar) released an updated Transaction Summary report that provides details on Transaction 30 of Ridge Trust, which is secured by a loan supported by a portfolio of rental contracts for primarily residential and some commercial water heaters; water treatment equipment; home standby generators; and heating, ventilation, and air conditioning equipment. The update reflects several amendments made to the program, some of which include an extension of the program by one year, and a change in the program commitment amount, as well as in the required level of subordination and overcollateralization.

ENVIRONMENTAL, SOCIAL, GOVERNANCE CONSIDERATIONS
There were no Environmental/Social/Governance factor(s) that had a significant or relevant effect on the credit analysis.

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/396929/dbrs-morningstar-criteria-approach-to-environmental-social-and-governance-risk-factors-in-credit-ratings (May 17, 2022).

Notes:
The principal methodology is Rating Canadian Structured Finance Transactions (April 11, 2022), 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/baseline-macroeconomic-scenarios-application-to-credit-ratings.

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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