DBRS Publishes Three Updated Corporate Finance Methodologies

DBRS has today published three updated corporate methodologies as follows:

(1) “Rating Companies in the Capital Goods Dealership Industry,”
(2) “General Corporate Methodology,” and
(3) “DBRS Criteria: Evaluating Corporate Governance.”

These updates supersede previous versions published in June 2016, March 2017 and June 2016, respectively. While certain details have been clarified in these methodologies, including those noted below, changes overall are not substantive 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 (including the first methodology 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, 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:
The methodology providing DBRS's processes and criteria is available by contacting us at info@dbrs.com.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.