DBRS Launches Sovereign Ratings Operations

Dominion Bond Rating Service (“DBRS”), the international rating agency, has today launched its sovereign rating operations with the release of its sovereign rating methodology. DBRS’s sovereign initiative will primarily focus on countries whose major industries are those in which DBRS has a strong track record of analytical expertise. The agency expects to establish coverage on 15 countries over the next two years.

“This is an important development for global fixed income investors,” says Eric Beauchemin, DBRS Managing Director, “because we are offering investors, especially those who invest in emerging debt markets, much-needed fresh insight in today’s more dynamic global markets.”

David Roberts, Chief Economist, who leads the DBRS Sovereign team, points out, “Globalization has transformed the financial markets. Yet the traditional ways of evaluating a sovereign’s rating and its impact on a corporate’s credit in the country haven’t always kept up with the changing fundamentals of sovereign credit risks.”

“DBRS is committed to offering investors consistent and, we think, more realistic assessments of sovereign ratings and country risks for corporates based on sound, fundamental credit analysis,” adds Mr. Roberts.

Mr. Roberts joined DBRS from Bank of America, where he was the International Economist. He was also Managing Director of Sovereign Ratings at Duff & Phelps Credit Rating Co. and, before that, Vice President at the Federal Reserve Bank of New York. He received his Ph.D. in economics from Rice University.

DBRS is a recognized, international rating agency providing timely and comprehensive rating opinions to the world’s capital markets. Privately owned and independent, DBRS offers in-depth credit analysis of corporate and government issues in North America, Europe, Asia, and Latin America. DBRS’s extensive coverage of structured finance and securitization has solidified its standing as a leading provider of comprehensive, in-depth credit analysis.

DBRS is headquartered in Toronto, with offices in New York, Chicago, London, Frankfurt, and Paris, and covers entities worldwide.

DBRS has published a methodology providing DBRS's processes and criteria for covering this industry or topic. If you are interested in receiving a copy, contact us at: info@dbrs.com.