DBRS Requests Comments on Proposed Obligations Backed by Insurance Policy Appendices/Exhibits to Rating US SF Transactions, ABS Surveillance & Operational Risk Assessment for ABS Servicers/Originators

DBRS is today requesting comments on the following appendices and exhibits to the following methodologies:

(1) A new appendix to the “Rating U.S. Structured Finance Transactions” methodology titled “Rating Obligations Backed by Insurance Policy (Financial Guarantee) - Request for Comment” (the Methodology). The Methodology provides an analytical framework for reviewing obligations backed by insurance policies and/or financial guarantees in the United States.
(2) An Insurance-Backed Exhibit to the existing “Operational Risk Assessment for U.S. ABS Originators” methodology.
(3) An Insurance-Backed Exhibit to the existing “Operational Risk Assessment for U.S. ABS Servicers” methodology.
(4) An Insurance-Backed Appendix to the existing “DBRS Master U.S. ABS Surveillance Methodology.”

The Methodology provides a discussion of the following:
-- Overview of key rating considerations,
-- Analysis of the credit quality of the policy provider/guaranteeing entity,
-- Review of the terms and conditions of the policy/guarantee,
-- Legal and structural considerations and
-- Cash flow analysis.

Comments should be received on or before March 15, 2016. Please submit comments to the following email address: Structured.Finance.Comments@dbrs.com. Following a review and evaluation of all submissions, DBRS will publish a final version of the methodology. All comments DBRS receives will be made public after the final version of the methodology is published, unless confidentiality is specifically requested.

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

The current operational “Rating U.S. Structured Finance Transactions,” “Operational Risk Assessment for U.S. ABS Servicers,” “Operational Risk Assessment for U.S. ABS Originators” and “DBRS Master U.S. ABS Surveillance Methodology” can be found by clicking on the link under Related Research at the right of the screen.