DBRS Publishes Updated Legal Criteria for European Structured Finance Transactions

DBRS Ratings Limited (DBRS) has today published an updated version of its “Legal Criteria for European Structured Finance Transactions.” The updates clarify the utilization and impact of financial institution rating levels as well as downgrade triggers with respect to an account bank. Further, the updates clarify situations where additional analysis of the account bank may be warranted because of increased exposure of the rated transaction to the credit risk of said account bank.

The changes to the criteria are not deemed material. All DBRS-rated European securitizations meet the new criteria and, as a result, no rating actions will be taken.

This methodology, effective as of the date of this press release, supersedes the previous version.

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