Spruce Hill Mortgage Loan Trust 2020-SH1: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on the following Mortgage-Backed Notes, Series 2020-SH1 (the Notes) issued by Spruce Hill Mortgage Loan Trust 2020-SH1 (the Trust):

-- $178.1 million Class A-1 at AAA (sf)
-- $22.9 million Class A-2 at AA (high) (sf)
-- $40.3 million Class A-3 at A (sf)
-- $21.4 million Class M-1 at BBB (sf)
-- $16.0 million Class B-1 at BB (sf)
-- $12.4 million Class B-2 at B (sf)