DBRS Publishes Methodology: Rating European Consumer and Commercial Asset-Backed Securitisations

DBRS has today published its finalised methodology for the rating approach of European consumer and commercial asset-backed securities (ABS) transactions. The criteria described are most applicable to revolving and amortising consumer and commercial loan transactions where the underlying pool of receivables consists of one or more large, homogeneous pool(s) of assets, as is typically the case in secured and unsecured consumer loan securitisations (including credit card securitisations) and consumer and commercial lease securitisations. In this report, the asset classes are collectively referred to as ABS transactions. In addition, the rating paradigm outlined in this report is applicable to transactions evaluated across all European jurisdictions.

The final methodology does not have any substantive changes from the proposed European ABS methodology which was published with a request for comments.

As a result, DBRS is not taking rating actions on any outstanding European securitisations.

DBRS criteria and methodologies are publicly available on its website www.dbrs.com under Methodologies.