COVID-19 Related Global Structured Finance Rating Actions

This document summarizes the negative rating actions taken as a result of the impact of the coronavirus from March 1, 2020 to May 31, 2020, on outstanding Structured Finance ratings including trend changes, placement of securities under review with negative implications, and downgrades. While considerable uncertainty remains with respect to the intensity and duration of the shock, DBRS Morningstar is evaluating the expected impact of the pandemic on its ratings, consistent with our forward-looking rating philosophy.