DBRS Publishes Four Corporate Finance Methodologies

DBRS Limited (DBRS) has today published four corporate finance methodologies as follows:

(1) Rating Companies in the Automotive Manufacturing Industry
(2) Rating Companies in the Automotive Supplier Industry
(3) Rating Companies in the Gaming Industry
(4) Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry

These updates supersede the previous versions published in October 2015 (for the first, second and fourth methodologies) and November 2015 (for the third methodology).

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.

Per the press release dated September 2, 2016, DBRS is incorporating the following changes in its corporate methodologies as they are published over the coming year:

(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 the 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”).

Notes:
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 info@dbrs.com.