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TORONTO, Feb. 4, 2010 /CNW/ - First National Financial Income Fund (TSX: FN.UN) today reported that DBRS Limited ("DBRS") has assigned First National Financial LP ("First National") an investment-grade issuer rating of BBB with a Stable trend. DBRS assigned the rating to reflect First National's status as Canada's largest non-bank mortgage lender, noting First National's strong asset quality profile, sound business model and focus on generating stable underlying cash flows.
"First National considers this investment-grade rating as recognition of the strength of our business model and the Company's success in achieving consistent asset growth and building shareholder value," said Stephen Smith, Chairman and President. "The rating reflects confidence in our organization and will support our future strategic growth."
About First National Financial Income Fund
First National Financial Income Fund (TSX: FN.UN) owns a 21% interest in First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single family and multi-unit) and commercial mortgages. With more than $45 billion in mortgages under administration, First National is Canada's largest non-bank originator and underwriter of mortgages and is among the top three in market share in the growing mortgage broker distribution channel. For more information, please visit www.firstnational.ca.
SOURCE First National Financial Corporation
For further information: For further information: Rob Inglis, Chief Financial Officer, First National Financial LP, Tel: (416) 593-1100, Email: email@example.com; Steve Wallace, Vice President, BarnesMcInerney Inc., Tel: (416) 367-5000, Email: firstname.lastname@example.org