DBRS Publishes Updated UK, UK re-securitisation, Belgian, Portuguese and French Addendums to the Master European RMBS Rating Methodology

DBRS Ratings Limited (DBRS) has today published an amended version of its Master European Residential Mortgage-Backed Securities (RMBS) Rating Methodology (“Master”) and Jurisdictional Addenda. This methodology, effective as of the date of this press release, supersedes the previous methodology dated December 20th, 2012.

The Master methodology with the addenda describes the DBRS rating criteria for European residential mortgage portfolios and forms part of the DBRS criteria for rating European residential mortgage-backed securities (RMBS) and other transactions linked to residential mortgage assets including covered bonds in the Netherlands, Spain, Italy, Portugal, the United Kingdom (including re-securitisation transactions), Belgium, France and Ireland.

In the updated methodology, DBRS changed the Market Value Decline (MVD) assumptions for certain rating categories for the UK, UK re-securitisation, Belgium and Portuguese markets. Assumptions for France remain unchanged.

Accordingly, all outstanding UK, UK re-securitisaion, Portuguese and Belgian RMBS transactions will be reviewed and rating actions published as soon as possible.

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