DBRS Publishes Three Corporate Methodology Updates; No Rating Impact

DBRS has today updated three of its industry-specific corporate finance methodologies, using the new revised format that provides a more concise but still detailed insight into the approach that DBRS uses to rate corporate securities in each industry. DBRS will continue to update its other corporate finance methodologies in a similar manner in the future. Today’s methodology updates include the following:

(1) Rating Companies in the Communications Industry,
(2) Rating Companies in the Oil and Gas Industry and
(3) Rating Companies in the Services Industry.

There have been no rating changes or rating actions caused by today’s methodology updates or the revised corporate methodology format. Please refer to the June 18, 2013, press release “DBRS Releases Five Corporate Methodology Updates” for details on the new format.

Note that the communications industry risk rating (IRR) using the new three-tier industry rating system is BBB, the oil and gas IRR is BBB and the services IRR is BB. In addition, in the previous communications methodology, a distinction was made in the IRR between telecom, wireless and cable sectors whose IRRs were A (low), BBB (high)/BBB and BBB (high)/BBB, respectively; however, no distinction in the IRR is now being made for sub-segments so the communications IRR is now BBB.