First National Financial Corporation: Rating Report

On March 13, 2023, DBRS Limited (DBRS Morningstar) confirmed the Long-Term Issuer Rating of First National Financial LP (FNF LP) at BBB and the ratings on the Senior Unsecured Debt and Class A Preference Shares of First National Financial Corporation (FNFC) at BBB (low) and Pfd-3, respectively. All trends are Stable. The Intrinsic Assessment (IA) for FNF LP is BBB. FNFC’s Support Assessment is SA3, which reflects no expectation of timely external support. This results in FNFC’s Senior Unsecured Debt rating being positioned one notch below FNF LP’s IA at BBB (low).