Morningstar DBRS Discontinues Credit Ratings on Durham Mortgages B plc

DBRS Ratings Limited (Morningstar DBRS) discontinued its credit ratings on the Class A, Class B, Class C, Class D, Class E, Class F, and Class X Notes (collectively, the Rated Notes) issued by Durham Mortgages B plc.

The discontinuations reflect the full repayment of the Rated Notes on the 27 August 2024 payment date. Prior to their repayment in full, the credit ratings and the outstanding principal balances of the Rated Notes were as follows:

-- Class A rated AAA (sf); GBP 837,036,459.78
-- Class B rated AA (sf); GBP 69,988,000.00
-- Class C rated A (sf); GBP 58,614,000.00
-- Class D rated BBB (sf); GBP 52,491,000.00
-- Class E rated BB (sf); GBP 38,493,000.00
-- Class F rated B (sf); GBP 23,620,000.00
-- Class X rated BB (sf); GBP 10,010,872.15

Please refer to https://dbrs.morningstar.com/issuers/27505 for more information.

The principal methodology applicable to the credit ratings is the Master European Structured Finance Surveillance Methodology (6 August 2024), https://dbrs.morningstar.com/research/437540/master-european-structured-finance-surveillance-methodology.

In Morningstar DBRS' opinion, a discontinued-repaid credit rating action does not warrant the application of the entire principal methodology.

For details on analytical and regulatory disclosures please refer to the latest credit rating action press release published for this transaction: https://dbrs.morningstar.com/research/425214/dbrs-morningstar-confirms-credit-ratings-on-durham-mortgages-b-plc.

Lead Analyst: Clare Wootton, Vice President,
Rating Committee Chair: Alfonso Candelas, Associate Managing Director
Initial Rating Date: 16 August 2021

DBRS Ratings Limited
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London EC1Y 1HQ United Kingdom
Tel. +44 (0) 20 7855 6600
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A description of how Morningstar DBRS analyses structured finance transactions and how the methodologies are collectively applied can be found at: https://dbrs.morningstar.com/research/278375.

For more information on this credit or on this industry, visit dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.