DBRS Morningstar Publishes Updated Methodology for Rating U.S. Structured Finance Transactions

DBRS Morningstar Credit Ratings (DBRS Morningstar) published an updated version of its “Rating U.S. Structured Finance Transactions” methodology (the Methodology), including the following updated appendices (the Appendices):

(1) Appendix I: U.S. Consumer Loan ABS Transactions;
(2) Appendix III: U.S. TV Programming Licensing Rights;
(3) Appendix IV: U.S. Insurance Premium Finance; and
(4) Appendix VII: Insurance Commission ABS (formally known as Long-Term Care Insurance Commission ABS).

DBRS Morningstar has conducted a periodic review of the Methodology and the Appendices. This update supersedes the previous version published on September 27, 2018 and is effective as of November 6, 2019. DBRS Morningstar deems the update not to be material and has determined that no ratings are expected to change as a result of this update. The non-material changes include:

(1) A description of additional structural considerations, such as revolving pools and prefunding periods;
(2) A broadening of the scope of Appendix VII to provide the framework for additional types of insurance commissions; and
(3) Certain editorial modifications.

Notes:
DBRS Morningstar methodologies are publicly available on its website www.dbrs.com under Methodologies & Criteria.

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