DBRS Publishes Updated CMBS North American Surveillance Methodology

DBRS, Inc. (DBRS) has today published an updated methodology for its surveillance of North American commercial mortgage-backed securities (CMBS). This methodology details DBRS’s surveillance procedures as they relate to all CMBS rated by DBRS and describes the analysis taken to arrive at any rating actions from the surveillance process. This methodology will give the reader greater transparency into the DBRS CMBS surveillance philosophy and should be read in conjunction with DBRS’s “CMBS Rating Methodology,” “Legal Criteria for Canadian Structured Finance” and “Legal Criteria for U.S. Structured Finance” as well as its “North American Commercial Mortgage Servicer Evaluations” and “Rating North American Commercial Real Estate Non-Performing Loan Liquidating Trusts” methodologies for a cumulative representation of the processes behind the analysis. DBRS expects its ratings to hold throughout a cycle; however, DBRS is committed to performing surveillance and releasing surveillance reports at a level that increases the transparency of its ratings.

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

DBRS's rating definitions and the terms of use of such ratings are available at www.dbrs.com.