DBRS Morningstar Publishes Updated Methodologies Upon Publishing Final Global Criteria for Corporate Credit Estimates

DBRS Morningstar published four updated structured finance methodologies as follows:

-- “Rating CLOs Backed by Loans to European SMEs,”
-- “Global Methodology for Rating Debt Issued by Investment Funds,”
-- “Rating CLOs and CDOs of Large Corporate Credit,” and
-- “Rating Credit Funds.”

DBRS Morningstar has conducted an interim review of these methodologies in conjunction with the finalization of “DBRS Morningstar Global Criteria: Corporate Credit Estimates” published on October 6, 2023. The updates align affected methodologies with the new “DBRS Morningstar Global Criteria: Corporate Credit Estimates.”

The updates supersede the following previous versions:
-- “Rating CLOs Backed by Loans to European SMEs” (June 10, 2022),
-- “Global Methodology for Rating Debt Issued by Investment Funds” (April 18, 2023),
-- “Rating CLOs and CDOs of Large Corporate Credit” (February 7, 2023), and
-- “Rating Credit Funds” (March 7, 2023).

These updates are effective as of October 6, 2023. DBRS Morningstar deems the updates not to be material and has determined that no ratings are expected to change as a result of this update.

Notes:
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.

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.