DBRS Publishes Updated Canadian CDO Surveillance Methodology

DBRS has today published an updated version of the Canadian Surveillance Methodology for CDOs of Large Corporate Credit. The methodology explains DBRS’s ongoing monitoring process for collateralized debt obligations (CDOs) and the analyses performed in order to determine whether rating actions are required. The methodology is applied in conjunction with DBRS’s “Rating Methodology for CLOs and CDOs of Large Corporate Credit” and “Cash Flow Assumptions for Corporate Credit Securitizations,” both published in January 2014. Changes to this methodology are largely cosmetic and intended to provide further clarity and increased transparency into DBRS’s approach to monitoring Canadian CDO transactions.

DBRS does not view the updates to either methodology as significant and has determined that no rating action is warranted upon the release of this updated methodology.

Note:
DBRS’s rating definitions and terms of use of such ratings are available at www.dbrs.com.