DBRS Morningstar Updates Rating Disclosures for Germany and Luxembourg

As of March 30, 2020, DBRS Morningstar transferred the ongoing coverage of the ratings assigned to Germany and Luxembourg to the Spanish branch of DBRS Ratings GmbH from DBRS Ratings Limited (see below for a full list of the affected issuers). The lead analyst responsibilities for these two sovereign issuers have been transferred to Jason Graffam.

Both DBRS Ratings Limited and DBRS Ratings GmbH are registered with the European Securities and Markets Authority (ESMA) under Regulation (EC) No. 1060/2009 on Credit Rating Agencies, as amended, and are registered Nationally Recognized Statistical Rating Organization (NRSRO) affiliates in the United States and Designated Rating Organization (DRO) affiliates in Canada.

The issuers affected by the transfer are:

• Germany, Federal Republic of
• Luxembourg, Grand Duchy of

Notes:
Ratings issued and monitored by DBRS Ratings GmbH are noted as such on the DBRS Morningstar website; however, the language and related statements in previously published press releases in respect of the relevant ratings will not be changed retroactively and will remain as part of DBRS Morningstar’s historical record. The ratings issued and monitored in the European Union are marked as such in their respective rating tables. As part of this transfer, these markings will remain unchanged on all active ratings related to the above-mentioned issuers.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

DBRS Ratings GmbH, Sucursal en España
Calle del Pinar, 5
28006 Madrid
Spain
Tel. +34 (91) 903 6500

DBRS Ratings GmbH
Neue Mainzer Straße 75
60311 Frankfurt am Main Deutschland
Tel. +49 (69) 8088 3500
Geschäftsführer: Detlef Scholz
Amtsgericht Frankfurt am Main, HRB 110259