DBRS Morningstar Publishes Updated Methodology for DBRS Morningstar Master U.S. ABS Surveillance

DBRS Morningstar published an updated version of its “DBRS Morningstar Master U.S. ABS Surveillance” methodology (the Methodology).

Appendix XIX—Obligations Backed by Insurance Policy (Financial Guarantee) of the Methodology was updated to align with the recent update to Appendix V: Obligations Backed by Insurance Policy (Financial Guarantee) in the “Rating U.S. Structured Finance Transactions” methodology where DBRS Morningstar retains the ability to flow through, on a one-to-one basis, an entity’s DBRS Morningstar credit rating in the assignment and monitoring of a structured finance security and removes the use of an internal assessment.

DBRS Morningstar has conducted a periodic review of the Methodology. This update supersedes the previous version published on January 27, 2022, and is effective as of May 16, 2022. 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.

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

The DBRS Morningstar Sovereign group releases baseline macroeconomic scenarios for rated sovereigns. DBRS Morningstar analysis considered impacts consistent with the baseline scenarios as set forth in the following report: https://www.dbrsmorningstar.com/research/384482/baseline-macroeconomic-scenarios-application-to-credit-ratings.

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