DBRS Morningstar Publishes Updated Canadian Provincial/Territorial and Municipal Methodologies

DBRS Morningstar published two updated public finance methodologies (the Methodologies) as follows:

-- Rating Canadian Provincial and Territorial Governments (May 15, 2019) and
-- Rating Canadian Municipal Governments (May 15, 2019).

DBRS Morningstar has conducted a periodic review of the Methodologies. These updates supersede the previous versions and are effective as of May 13, 2020. DBRS Morningstar deems the updates not to be material and has determined that no ratings are expected to change as a result of these updates.

As discussed in the press release titled “DBRS Publishes Updated Capital Goods Dealership Methodology” dated May 10, 2019, DBRS Morningstar is changing its corporate methodologies to an overlay format. The critical rating factors and financial risk assessment will now blend into a core assessment, which will then be adjusted, as needed, for industry-specific and general overlay factors to determine an issuer rating. For further details, please see the May 10, 2019, press release referred to above. The corporate overlay approach has been modified slightly to accommodate public finance entities.

Notes:
For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

DBRS Morningstar methodologies are publicly available on its website www.dbrsmorningstar.com under Methodologies & Criteria.

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