Noria 2021: Rating Report

On 26 July 2021, DBRS Ratings GmbH (DBRS Morningstar) finalised the provisional ratings on the following notes issued by Noria 2021:

-- Class A Notes at AAA (sf)
-- Class B Notes at AA (high) (sf)
-- Class C Notes at A (sf)
-- Class D Notes at BBB (sf)
-- Class E Notes at BB (low) (sf)
-- Class F Notes at B (sf)

DBRS Morningstar does not rate the Class G Notes also issued in the transaction.