DBRS Publishes Seven Updated Corporate Finance Methodologies

DBRS has today published seven methodologies as follows:

(1) Rating Companies in the Communications Industry,
(2) Rating Companies in the Merchandising Industry,
(3) Rating Companies in the Consumer Products Industry,
(4) Rating Companies in the Oil and Gas Industry,
(5) Rating Companies in the Oilfield Services Industry,
(6) Rating Companies in the Mining Industry and
(7) Rating Container Terminal Operators.

These updates supersede previous versions published in August 2015 (for the first, second and third methodologies), September 2015 (for the fourth and fifth methodologies) and October 2015 (for the sixth and seventh methodologies).

While certain details have been clarified in these methodologies, changes overall are not material and DBRS has determined that no ratings have changed as a result of these updates.

Starting with these seven methodologies, and continuing over the next year as other corporate methodologies are published subsequent to their periodic review, DBRS will incorporate the following changes in its corporate methodologies.

(1) A description of each business risk assessment (BRA) factor in the BRA grid;
(2) A range for the B-range financial risk assessment (FRA) metrics to show the interface of the B and CCC ranges, where applicable; and
(3) A new appendix that provides definitions of FRA metrics (which have historically been included in, and will continue to be a part of “DBRS Criteria: Financial Ratio Definitions and Accounting Adjustments – Non-Financial Companies”).

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

DBRS’s methodologies and criteria are available at www.dbrs.com or by contacting us at info@dbrs.com.