DBRS Morningstar Publishes Updated Methodology for North American Single-Asset/Single-Borrower Transactions

DBRS Morningstar published an updated version of the North American Single-Asset/Single-Borrower Methodology (the Methodology).

DBRS Morningstar has conducted a periodic review of the Methodology. This update supersedes the previous version published on February 28, 2022, and is effective as of June 10, 2022.

In this update, DBRS Morningstar retains the ability to flow through on a one-to-one basis a tenant’s DBRS Morningstar credit rating in the assignment and monitoring of credit tenant lease (CTL) transactions and is further described in the Appendix B – Credit Tenant Lease Transactions of the SASB Methodology. The rationale for the update is to align DBRS Morningstar’s practice to that used in flow-through ratings across jurisdictions. 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.