Eagle Re 2021-2 Ltd.: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on certain classes of the Mortgage Insurance-Linked Notes, Series 2021-2 (the Notes) issued by Eagle Re 2021-2 Ltd. (EMIR 2021-2 or the Issuer) as listed below. In addition, DBRS Morningstar discontinued its provisional rating on Class B-2 as the Issuer decided to not offer Class B-2 as of the Closing Date, but it may be offered corresponding to the coverage level B-2 after the Closing Date.

-- $118.3 million Class M-1A at BBB (high) (sf)
-- $102.2 million Class M-1B at BBB (low) (sf)
-- $145.2 million Class M-1C at BB (sf)
-- $48.4 million Class M-1C-1 at BB (high) (sf)
-- $48.4 million Class M-1C-2 at BB (high) (sf)
-- $48.4 million Class M-1C-3 at BB (sf)
-- $91.4 million Class M-2 at B (high) (sf)
-- $26.9 million Class B-1 at B (sf)