Abstract: An exterior wall assembly comprising an outer weather-resistant layer, a heat insulating panel situated interiorly to the outer layer, a wall situated interiorly to the insulating panel, and a drainage track. The drainage track includes a clog-resistant drainage channel so that water collecting behind the insulating panel may drain from the assembly. The drainage track, in a preferred form, is extruded from PVC and defines a substantially L-shaped configuration in cross-section. An elongated, relatively tall flashing leg is provided for attachment of the drainage track to the wall such that all water-resistant material and insulation laps over the flashing leg to direct water into the drainage channel. Finish apertures are provided through a portion of the drainage track so that exterior finish such as, for example, stucco, will readily adhere and bond to the drainage track.