DBRS Morningstar Publishes Updated Methodology for Rating U.S. Structured Finance Transactions

DBRS Morningstar published an updated version of its “Rating U.S. Structured Finance Transactions” methodology (the Methodology), including the following updated appendices (the Appendices):

(1) Appendix I: U.S. Consumer Loan ABS Transactions;
(2) Appendix II: U.S. Health-Care Receivables ABS;
(3) Appendix III: U.S. TV Programming Licensing Rights;
(4) Appendix IV: U.S. Insurance Premium Finance;
(5) Appendix V: Obligations Backed by Insurance Policy (Financial Guarantee); and
(6) Appendix VI: U.S. Energy Savings Performance Contracts.

In addition, as no endorsed ratings by DBRS Ratings Limited for use in the European Union are currently outstanding, Appendix VII: Insurance Commission ABS is no longer available for such purpose.

DBRS Morningstar has conducted a periodic review of the Methodology and the Appendices. This update supersedes the previous version published on November 6, 2019, and is effective as of November 6, 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:
DBRS Morningstar methodologies are publicly available on its website www.dbrsmorningstar.com under Methodologies & Criteria.

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.

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.

For more information regarding the structured finance rating approach and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/359905.

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