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Credit Estimate Snapshot: Q2 2025 Improved Company Financials Prior to Tariffs but Headwinds Remain

Commentary

Credit Estimate Snapshot: Q2 2025 Improved Company Financials Prior to Tariffs but Headwinds Remain

July 23, 2025

Tariffs

Implications for Global Credit

ORA

Operational Risk Assessments and Rankings

ESG

ESG Factors Considered in Analysis

The Latest

Press ReleaseJuly 28, 2025
Morningstar DBRS Assigns Credit Rating of BBB (low) to Pembina Pipeline Corporation's Subordinated Notes Series 3
Energy
DBRS Limited (Morningstar DBRS) assigned a credit rating of BBB (low) with a Stable trend to Pembina Pipeline Corporation's (Pembina or the Company) $600 millio...
Press ReleaseJuly 28, 2025
Morningstar DBRS Assigns AA (low) Credit Rating to Banca Nazionale del Lavoro S.p.A. Covered Bonds (OBG - Mortgages) Series 24
Covered Bonds
DBRS Ratings GmbH (Morningstar DBRS) assigned a AA (low) credit rating to the Series 24 Obbligazioni Bancarie Garantite (OBG; the Italian legislative covered bo...
Press ReleaseJuly 28, 2025
Morningstar DBRS Publishes Final Methodology for Rating European Consumer and Commercial Asset-Backed Securitisations
Consumer/Commercial Leases
Consumer Loans & Credit Cards
Morningstar DBRS finalised its Rating European Consumer and Commercial Asset-Backed Securitisations methodology (the Methodology). This Methodology presents ...
CommentaryJuly 28, 2025
European Banks Maintain Adequate Capitalisation Despite Higher Shareholder Remuneration and Regulatory Headwinds
Banking Organizations
Key highlights from the commentary include: -- European banks have generally strengthened their capitalisation recently. -- Banks' stronger capital levels hav...
Press ReleaseJuly 28, 2025
Morningstar DBRS Posts Frontline Perspectives Webinar Recording: The Web of Private Credit Lenders
Banking Organizations
Non-Bank Financial Institutions
Funds & Investment Management Companies
Morningstar DBRS posted a recording of its Frontline Perspectives: The Web of Private Credit Lenders webinar. Having tripled in size over the past decade, globa...
Press ReleaseJuly 25, 2025
Morningstar DBRS Releases May 2025 Canadian Securitization Market Overview Report
ABCP
Auto
Consumer Loans & Credit Cards
DBRS Limited (Morningstar DBRS) released the Canadian Securitization Market Overview report for the month ended May 31, 2025. The report provides an overview of...
Industry StudyJuly 25, 2025
Canadian Securitization Market Overview: May 2025
ABCP
Auto
Consumer Loans & Credit Cards
DBRS Limited (Morningstar DBRS) released the Canadian Securitization Market Overview report for the month ended May 31, 2025. The report provides an overview of...
Press ReleaseJuly 25, 2025
Morningstar DBRS Discontinued Credit Rating on Upstart Pass-Through Trust, Series 2021-ST1
Consumer Loans & Credit Cards
DBRS, Inc. (Morningstar DBRS) discontinued the outstanding credit rating on the following note issued by Upstart Pass-Through Trust, Series 2021-ST1 as a result...

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