DBRS Publishes Updated Legal Criteria for U.S. Structured Finance Methodology

DBRS, Inc. (DBRS) published an updated methodology entitled “Legal Criteria for U.S. Structured Finance” (the Methodology). The Methodology outlines DBRS’s approach with respect to legal criteria for rating securitizations issued in the United States. The changes to the Methodology relate to considerations in assessing risks on the “two-way” margin posting obligation for non-cleared swaps.

This update supersedes the previous version published in July 2017. While certain details have been clarified in the Methodology, DBRS does not deem the changes to be material. In conjunction with the update, DBRS will review the one affected transaction and take the appropriate rating action(s) under the updated methodology, if warranted.

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.

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