DBRS Morningstar Releases an Update to 2022 Calendar for UK Issued Sovereign Entities

DBRS Morningstar has released an update to the 2022 calendar for UK issued sovereign entities. This update is to include the out of calendar sovereign rating review of the United Kingdom of Great Britain and Northern Ireland, published earlier today. This is a deviation from DBRS Morningstar’s UK Sovereign, Sub-Sovereign, and Supranational Calendar. DBRS Morningstar decided to deviate from the Calendar to assess the implications of the unexpected developments in the UK over recent weeks. The developments are related to the absence of clarity on the UK’s fiscal plans, concerns about UK policies, ongoing and considerable turmoil in the UK government bond markets, a fall in pound sterling, an emergency response by the Bank of England, and higher market interest rates.

The update also includes the inclusion of Norway in the calendar which is now a UK issued rating.

All DBRS Morningstar’s ratings in this DBRS Morningstar’s UK calendar are subject to Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019 (CRAR SI). In accordance with the regulations, these credit ratings must be reviewed at least every six months and publication must fall on a Friday after 9pm GMT. Deviation from DBRS Morningstar’s UK publication calendar for these ratings or related rating reports will occur only when necessary.

This calendar is available on the DBRS Morningstar website under Sovereign https://www.dbrsmorningstar.com/research/404214.