DBRS Morningstar Discontinues Rating on Bank of Montreal (Global Registered Covered Bond Program) Covered Bonds, Series CBL2

DBRS Limited (DBRS Morningstar) discontinued its rating on the Covered Bonds, Series CBL2 (the Series) issued under the Bank of Montreal (Global Registered Covered Bond Program), as the Series was fully repaid.

Notes:
The principal methodology is Rating and Monitoring Covered Bonds, which can be found on dbrs.com under Methodologies & Criteria.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

This rating is endorsed by DBRS Ratings Limited for use in the European Union. The following additional regulatory disclosures apply to endorsed ratings:

The last rating action on this program took place on June 19, 2019, when DBRS Morningstar assigned a AAA rating to the Bank of Montreal (Global Registered Covered Bond Program) Covered Bonds, Series CBL17.

For further information on DBRS Morningstar historical default rates published by the European Securities and Markets Authority (ESMA) in a central repository, see: http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Lead Analyst: Paul Bretzlaff, Senior Vice President
Rating Committee Chair: Tim O'Neil, Managing Director
Initial Rating Date: April 28, 2014

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.

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