DBRS Morningstar Publishes Three Updated Project Finance Methodologies

DBRS Morningstar published three updated methodologies as follows:

-- Rating Project Finance,
-- Rating Wind Power Projects, and
-- Rating Solar Power Projects.

The changes include (1) a deletion of the debt-to-cash flow available for debt service (CFADS) ratio in assessing merchant hydro projects, which is considered redundant to the project loan coverage ratio (PLCR); (2) further details on how DBRS Morningstar addresses refinancing risk; and (3) other non-material changes.

The updates supersede the following previous versions:

-- Rating Project Finance dated September 1, 2020 ;
-- Rating Wind Power Projects dated September 1, 2020; and
-- Rating Solar Power Projects dated September 1, 2020.

The updates are effective as of August 18, 2021. DBRS Morningstar deems the updates not to be material and has determined that no ratings are expected to change as a result of these updates.

Notes:
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.