DBRS Publishes Five Updated Corporate Finance Methodologies

DBRS has today published five updated methodologies as follows:

(1) Rating Companies in the Forest Products Industry;
(2) Rating Companies in the Radio Broadcasting Industry;
(3) Rating Companies in the Television Broadcasting Industry;
(4) Rating Companies in the Printing Industry; and
(5) Rating Companies in the Publishing Industry.

These updates supersede previous versions published in April 2016. While certain details have been clarified in these methodologies (including those noted below), changes overall are not substantive and no ratings are expected to change 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 (including all of those listed above) 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 (that 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 us at info@dbrs.com.