DBRS Assigns Provisional Rating of BBB (low), Stable, to First National Financial’s New Senior Unsecured Debt

DBRS Limited (DBRS) has assigned a provisional rating of BBB (low) with a Stable trend to First National Financial Corporation’s (FNF or the Company) proposed new Senior Unsecured Debt.

DBRS has assigned the senior unsecured debt rating one notch below the Company’s BBB rating on its Senior Secured - Guaranteed Debt and the related Issuer Rating assigned to First National Financial LP (FNFLP) because of the new debt’s subordination relative to FNFLP’s sizable operating bank line. Assignment of a final rating is subject to receipt and review by DBRS of final documentation that is consistent with that which DBRS has already reviewed.

Notes:
The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

The primary methodology is Global Methodology for Rating Finance Companies, which can be found on our website under Methodologies.