DBRS Morningstar Publishes Updated General Corporate Methodology

DBRS Morningstar published an updated version of its “General Corporate Methodology” (the Methodology).

DBRS Morningstar has conducted a periodic review of the Methodology. This update supersedes the previous version published on November 4, 2019, and is effective as of April 24, 2020. Apart from minor editing changes, the appendix relating to timeshare operators has been archived as DBRS Morningstar no longer rates any issuers in this sector. 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.

As discussed in the press release for its “Rating Companies in the Capital Goods Dealership Industry” methodology dated May 10, 2019, DBRS Morningstar is changing its corporate methodologies to an overlay format. The business risk assessment and financial risk assessment will now blend into a core assessment, which will then be adjusted, as needed, for industry-specific and general overlay factors to determine an issuer rating. For further details, please see the May 10, 2019, press release referred to above. The front section of this methodology has been amended to reflect this overlay format.

Notes:
For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

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

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