Press Release

Morningstar DBRS Discontinues Credit Ratings on Genesis Mortgage Funding 2022-1 plc

RMBS
June 18, 2025

DBRS Ratings Limited (Morningstar DBRS) discontinued its credit ratings on the Class A, Class B, Class C, Class D, and Class E notes (together, the Rated Notes) issued by Genesis Mortgage Funding 2022-1 plc.

The discontinuation reflects the full repayment of the Rated Notes following the exercise of the mortgage pool option on the 16 June 2025 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 64,540,487.42
-- Class B rated AAA (sf); GBP 11,250,000.00
-- Class C rated AA (sf); GBP 8,750,000.00
-- Class D rated A (sf); GBP 5,625,000.00
-- Class E rated BBB (low) (sf); GBP 5,625,000.00

The principal methodology applicable to the credit ratings is: "Master European Structured Finance Surveillance Methodology" (4 February 2025) https://dbrs.morningstar.com/research/447080.

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/444061.

Lead Analyst: Petter Wettestad, Vice President
Rating Committee Chair: Alfonso Candelas, Associate Managing Director
Initial Rating Date: 21 April 2022

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

Ratings

  • 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

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