DBRS Publishes Updated Rating European Covered Bonds Methodology

DBRS Ratings Limited (DBRS) has today published an updated version of its “Rating European Covered Bonds” methodology (EU CB Methodology). This methodology, effective as of the date of this press release, supersedes the previous methodology dated January 2013.

The EU CB Methodology describes DBRS rating criteria for European covered bonds, whether issued under country-specific CB legislation or outside.

In the methodology, DBRS updated the rating-specific market spread values to calculate liquidation values and streamlined language.

The updated methodology is substantially unchanged from the previous version and DBRS expects the update has no impact on the rating of any of the European covered bonds rated by DBRS.

Information regarding DBRS ratings, including definitions, policies and methodologies are available on www.dbrs.com

For further information on DBRS historic default rates published by the European Securities and Markets Administration (ESMA) in a central repository, see:
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Ratings assigned by DBRS Ratings Limited are subject to EU regulations only.