Press Release

Morningstar DBRS Discontinues Credit Ratings on Harbour No. 1 plc

RMBS
November 14, 2024

DBRS Ratings Limited (Morningstar DBRS) discontinued its credit ratings on the Class A1, Class A2, Class B, Class C, Class D, Class E, Class F, Class G and Class X Notes (together, the Rated Notes) issued by Harbour No.1 plc.

The discontinuations reflect the full repayment of the Rated Notes on the 28 October 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 A1 Notes rated at AAA (sf); GBP 128,686,402.10
--Class A2 Notes rated at AAA (sf); GBP 74,323,000.00
--Class B Notes rated at AA (high) (sf); GBP 35,272,000.00
--Class C Notes rated at AA (sf); GBP 15,116,000.00
--Class D Notes rated at A (high) (sf); GBP 31,492,000.00
--Class E Notes rated at A (low) (sf); GBP 22,674,000.00
--Class F Notes rated at BBB (low) (sf); GBP 17,636,000.00
--Class G Notes rated at BB (low) (sf); GBP 15,116,000.00
--Class X Notes rated at AA (high) (sf); GBP 4,203,866.86

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

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 rating action press release published for this transaction: https://dbrs.morningstar.com/research/424892.

Lead Analyst: Clare Wootton, Vice President
Rating Committee Chair: Alfonso Candelas, Associate Managing Director
Initial Rating Date: 3 December 2021

DBRS Ratings Limited
1 Oliver's Yard 55-71 City Road, 2nd Floor
London EC1Y 1HQ United Kingdom
Tel. +44 (0) 20 7855 6600
Registered and incorporated under the laws of England and Wales: Company No. 7139960

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/439604.

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

Ratings

Harbour No. 1 plc
  • Date Issued:Nov 14, 2024
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:UK
  • Date Issued:Nov 14, 2024
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:UK
  • Date Issued:Nov 14, 2024
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:UK
  • Date Issued:Nov 14, 2024
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:UK
  • Date Issued:Nov 14, 2024
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:UK
  • Date Issued:Nov 14, 2024
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:UK
  • Date Issued:Nov 14, 2024
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:UK
  • Date Issued:Nov 14, 2024
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:UK
  • Date Issued:Nov 14, 2024
  • Rating Action:Disc.-Repaid
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:UK
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.