DBRS Morningstar Publishes Updated Rating European Structured Finance Transactions Methodology and Appendices

DBRS Morningstar published an updated version of its “Rating European Structured Finance Transactions Methodology”. The updated methodology includes updates to two appendices as follows:

-- Appendix 1: European Reverse Mortgages; and
-- Appendix 2: Obligations Backed by Insurance Policy (Financial Guarantee).

DBRS Morningstar has conducted a periodic review of the methodology and the appendices. No material changes to the methodology and appendices were made. The “Rating European Structured Finance Transactions Methodology” now includes a reference to the “Currency Stresses for Global Structured Finance Transactions” methodology. Additionally, in Appendix 1: European Reverse Mortgages, DBRS Morningstar clarified the reference to its European RMBS methodologies.

This update supersedes the previous version of the methodology published on 28 February 2020 and is effective as of 21 July 2020. DBRS Morningstar deems the update not to be material and has determined that no ratings are expected to change as a result of this update.

Notes:
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

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For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

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