Bellemeade Re 2020-1 Ltd.: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on the Mortgage Insurance-Linked Notes, Series 2020-1 (the Notes) issued by Bellemeade Re 2020-1 Ltd. (BMIR 2020-1 or the Issuer):

-- $317.1 million Class M-1A at A (low) (sf)
-- $185.0 million Class M-1B at BBB (low) (sf)
-- $26.4 million Class B-1 at BBB (low) (sf)