DBRS Morningstar Publishes Updated Criteria for Corporate Hybrid Instruments and Preferred Shares

DBRS Morningstar published an updated version of “DBRS Morningstar Global Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers” (the Criteria). The Criteria is used to rate corporate preferred shares as well as rate and determine the equity weighting of certain corporate hybrid securities.

DBRS Morningstar has conducted a periodic review of the Criteria. This update supersedes the previous version published on October 20, 2022, and is effective as of October 19, 2023. 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.

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

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