DBRS Morningstar Publishes Updated Rating European Structured Finance Transactions Methodology and Appendices

DBRS Morningstar published an updated version of its “Rating European Structured Finance Transactions Methodology” (the Methodology) and the following three appendices to the Methodology:

-- Appendix 1: European Reverse Mortgages;
-- Appendix 2: Obligations Backed by Insurance Policy (Financial Guarantee); and
-- Appendix 3: Dual-Recourse Securities.

DBRS Morningstar has conducted a periodic review of the Methodology and the appendices. These updates supersede the previous versions published on 19 May 2022 and are effective as of 15 July 2022. 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:
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/396929/dbrs-morningstar-criteria-approach-to-environmental-social-and-governance-risk-factors-in-credit-ratings.

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.

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.