Press Release

DBRS Morningstar Publishes Updated European RMBS Insight: Spanish Addendum

March 01, 2023

DBRS Morningstar published an updated version of its “European RMBS Insight: Spanish Addendum” (the Methodology).

This Methodology presents the criteria for which Spanish residential mortgage-backed securities (RMBS) ratings, and, where relevant, Spanish covered bonds ratings and Spanish nonperforming loan (NPL) transactions are assigned and/or monitored.

DBRS Morningstar has conducted a periodic review of the Methodology. This update supersedes the prior version published on 26 April 2022 and is effective as of 1 March 2023. 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.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the “DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings” at

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:

DBRS Morningstar methodologies are publicly available on its website under Methodologies & Criteria.

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