DBRS Withdraws Methodology on U.K. Re-Securitisations and Publishes Guidance Note on European Re-Securitisation

DBRS Ratings Limited has today withdrawn its methodology on U.K. re-securitisations. The methodology has been replaced by a guidance note on European re-securitisation, included in the updated “Master European Residential Mortgage-Backed Securities Rating Methodology and Jurisdictional Addenda.”

The withdrawal is effective as of 12 November 2013.

Changes since the original publication of the “Master European Residential Mortgage-Backed Securities Rating Methodology and Jurisdictional Addenda” in February 2013 relate to immaterial amendments to region-specific default penalties and the narrative on how DBRS would analyse positively selected asset pools from originations made shortly prior to the onset of the global financial crisis. DBRS has concluded that the changes in this updated methodology are immaterial. DBRS has not published a request for comment.

DBRS does not anticipate any rating actions as a result of the withdrawal of this methodology.

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