2021 DBRS Morningstar Structured Finance Rating Transition and Default Study

DBRS, Inc.’s (DBRS Morningstar) 16th structured finance rating transition and 14th default study covers its rating history from 1985 through December 31, 2021. The rating transitions in this study reflect the historical performance of DBRS Morningstar structured finance long-term ratings over one-, three-, and 10-year time horizons.