Morningstar DBRS Comments on Charles Street Conduit Asset-Backed Securitisation 2 Limited Following Portfolio Repurchase

DBRS Ratings Limited (Morningstar DBRS) notes that the repurchase of mortgage loans totalling GBP 408 million on 18 September 2024 and the reduction in the nominal balance of the Class A1/A2 Notes (together, the Class A Notes) by the repurchase price will not, in and of itself, result in the credit ratings on the outstanding notes being downgraded or withdrawn.

Please refer to https://dbrs.morningstar.com/issuers/28276 for more information on this transaction.

ESG CONSIDERATIONS
A description of how Morningstar DBRS considers ESG factors within the Morningstar DBRS analytical framework can be found in the Morningstar DBRS Criteria: Approach to Environmental, Social, and Governance Factors in Credit Ratings at https://dbrs.morningstar.com/research/437781.

Notes:
All figures are in British pound sterling unless otherwise noted.

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.

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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 https://dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.