Credit Rating Report

Bellemeade Re 2020-4 Ltd.: Rating Report

RMBS

Summary

DBRS, Inc. (DBRS Morningstar) finalized the following provisional ratings on the Mortgage Insurance-Linked Notes, Series 2020-4 issued by Bellemeade Re 2020-4 Ltd.:

-- $136.3 million Class M-2A at BB (sf)
-- $152.6 million Class M-2B at B (low) (sf)

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