DBRS Publishes Updated Methodology on Rating Global Structured Finance CDO Restructurings

DBRS today has published its revised methodology for rating global structured finance collateralized debt obligation (“SF CDO”) restructurings. This revised methodology supersedes the previous methodology, published in December 2011.

The revised methodology incorporates a discussion of the DBRS surveillance process for deals of this nature. The revised methodology also outlines several of the surveillance methodologies for the underlying asset types that may be used in monitoring structured finance CDOs when looking through to their underlying assets. This revised methodology maintains consistency between DBRS’s methodologies for conducting surveillance on the underlying assets and on restructurings of structured finance CDOs.

The updated methodology is expected to impact ratings which were rated or monitored under the previous version of the methodology. As the review process progresses, DBRS will disclose the subsequent rating actions and ratings taken on the outstanding classes. DBRS expects current ratings to be either confirmed, downgraded or upgraded.

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

For more information on this industry, visit www.dbrs.com or contact us at info@dbrs.com.

DBRS's rating definitions and the terms of use of such ratings are available at www.dbrs.com.