Press Release

DBRS Requests Comments on Proposed Addition to Its European Non-Performing Loans Securitisations Methodology

CMBS
May 02, 2019

DBRS is requesting comments on a proposed update to its “Rating European Non-Performing Loans Securitisations” methodology (the Methodology), which may supersede the version published on 15 May 2018. DBRS deems the proposed update not to be material and has determined that no outstanding ratings are expected to change as a result of this update.

This Methodology presents the criteria for which European non-performing loan (NPL) securitisation ratings are assigned and/or monitored.

The proposed new addition to the Methodology is the addition of market value decline (MVD) rates for residential properties securing secured loans in Cyprus. The Methodology typically refers to MVDs published in the relevant DBRS RMBS rating methodologies. For European jurisdictions not covered by DBRS RMBS methodologies, DBRS uses MVDs outlined in the Methodology.

With the exception of Cypriot NPL transactions, this methodology will be applied as it is currently in the Request for Comment period.

As DBRS does not currently rate any Cypriot NPL transactions with the Methodology, no rating actions will be taken on any outstanding rated transactions.

Comments should be received on or before 3 June 2019. Please submit your comments to the following email address: StructuredFinanceComments@dbrs.com.

DBRS publishes on its website all comments received, except in cases where confidentiality is requested by the respondent.

Notes:
DBRS methodologies are publicly available on its website www.dbrs.com under Methodologies & Criteria.

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