DBRS Publishes Six Updated Corporate Finance Methodologies

DBRS Limited (DBRS) has today published six corporate finance methodologies and criteria as follows:

(1) Rating Project Finance,
(2) Rating Solar Power Projects,
(3) Rating Wind Power Projects,
(4) Rating Companies in the Pipeline and Diversified Energy Industry,
(5) DBRS Criteria: Rating Holding Companies and Their Subsidiaries and
(6) DBRS Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers.

These updates supersede the previous versions published in June 2016 (for the first methodology), December 2015 (for the second, third and fourth methodologies) and January 2016 (for the fifth and sixth methodologies/criteria).

While certain details have been clarified in these methodologies and criteria, 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 certain of 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.