DBRS Adds First London-Based Corporate Analysts as Part of Expansion Initiative

DBRS Ratings Limited (DBRS) has today announced Valentino Daprile and Giuseppe Fresta as its first Global Corporates analysts based in Europe. The analysts will lead new rating transactions as part of DBRS’s European corporate rating expansion initiative.

Mr. Daprile and Mr. Fresta were introduced to key market participants at DBRS’s London office on 1 December 2016 as part of an update to its ongoing expansion initiative announced earlier this year. The European analysts report to Andrew Lin, Managing Director, and are supported by sector specialists based in DBRS’s headquarters in Toronto.

Mr. Daprile has been named Senior Vice President and Head of the EU Corporates team. He most recently served as Head of Credit, Europe for Barclays in London. Mr. Daprile managed a diversified European credit risk team that was responsible for a credit portfolio of corporate, wealth and retail customers. At Barclays, he also took on several senior risk management, policy and strategic roles.

Mr. Fresta has been named Assistant Vice President of the EU Corporates team. He previously served as a senior credit analyst at Mitsubishi UFJ Financial Group and Royal Bank of Scotland Group PLC. Before joining DBRS, Mr. Fresta covered a wide range of sectors including utilities, power projects, natural resources, automotive and commodity trading.

The new staff additions are part of DBRS’s recently launched initiative to build out a Corporate Ratings team and develop the business in Europe. DBRS will add more London-based corporate analysts as its rating coverage grows in Europe. DBRS already rates a select group of major international companies based in Europe and maintains a number of private ratings on mid-sized issuers in the industrials, energy and project finance sectors.

The financial advisory industry in Europe has expressed strong interest in engaging another major rating agency since DBRS announced its new expansion plan.

DBRS is already well recognized in Europe, especially in Spain, Italy, France, Portugal and the United Kingdom, through its Structured Finance, Financial Institutions and Sovereign Ratings groups. DBRS intends to initially target new corporate ratings business in these countries. Interest is particularly strong in Spain and Italy where the underserved mid-sized corporate debt market will provide potential opportunities across several consumer and industrial sectors. Opportunities also exist for DBRS in specialized corporate sectors in which the company has already developed an international reputation, such as renewable power, public-private partnerships and sports franchises.

As detailed on its website, DBRS has a considerable portion of its mature corporate sector methodologies approved for use in Europe. In addition to its recent investments in methodologies and analytical capacity, DBRS will devote considerable time and effort into market outreach initiatives with key investors and intermediaries.

Media Contact
Stephen Bernard
Vice President, Research & Communications
+1 212 806 3240
sbernard@dbrs.com