DBRS Morningstar Publishes Updated Methodology for Rating U.S. Property Assessed Clean Energy (PACE) Securitizations

DBRS Morningstar published an updated version of its “Rating U.S. Property Assessed Clean
Energy (PACE) Securitizations” methodology.

DBRS Morningstar has conducted a periodic review of “Rating U.S. Property Assessed Clean
Energy (PACE) Securitizations.” This update supersedes the previous version published on July 31, 2019, and is effective as of May 24, 2022. 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.

The DBRS Morningstar Sovereign group releases baseline macroeconomic scenarios for rated sovereigns. DBRS Morningstar analysis considered impacts consistent with the baseline scenarios as set forth in the following report: https://www.dbrsmorningstar.com/research/384482.

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