DBRS Limited (DBRS Morningstar) notes that its ratings on Home Capital Group Inc. (HCG or the Group; rated BBB (low) and R-2 (middle) with Positive trends by DBRS Morningstar) are unchanged following HCG's announcement today regarding the expiration of the go-shop period provided for in the definitive acquisition arrangement agreement by a wholly owned subsidiary of Smith Financial Corporation on November 20, 2022.

During the go-shop period, HCG contacted 38 potential buyers, three of which entered into confidentiality agreements with the Group for access to nonpublic information. HCG did not receive any other acquisition offers during the go-shop period.

Completion of the arrangement is subject to obtaining the required approval of HCG's shareholders, court, and regulatory approvals. DBRS Morningstar will review its ratings for HCG once the approvals are in place and there is more clarity on the transaction.

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