Morningstar DBRS Discontinues Credit Ratings on NewDay Funding Master Issuer plc, Series 2021-3

DBRS Ratings Limited (Morningstar DBRS) discontinued its credit ratings on the Class A1, Class A2, Class B, Class C, Class D, Class E and Class F Notes (together, the Notes) issued by NewDay Funding Master Issuer plc, Series 2021-3

The credit rating discontinuations reflects the full repayment of the Notes on the 15 November 2024. Prior to their repayment in full, the credit ratings and the outstanding principal balances of the Notes were as follows:

--Class A1 Notes rated AAA (sf); GBP 103,400,000
--Class A2 Notes rated AAA (sf); GBP 100,000,000
--Class B Notes rated AA (sf); GBP 24,850,000
--Class C Notes rated A (low) (sf); GBP 39,550,000
--Class D Notes rated BBB (sf); GBP 49,700,000
--Class E Notes rated BB (sf); GBP 27,300,000
--Class F Notes rated B (high) (sf); GBP 8,400,000

The principal methodology applicable to these credit ratings is Rating European Consumer and Commercial Asset-Backed Securitisations (18 September, 2024) https://dbrs.morningstar.com/research/439583.

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 at https://dbrs.morningstar.com/research/442705.

Lead Analyst: Jeffrey Cespon, Vice President,
Rating Committee Chair: Paolo Conti, Associate Managing Director
Initial Rating Date: 16 November 2021

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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/439604.

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