DBRS Morningstar Publishes Updated European RMBS Insight: Spanish Addendum

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.

Notes:
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 https://www.dbrsmorningstar.com/research/396929.

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/407678/baseline-macroeconomic-scenarios-for-rated-sovereigns-december-2022-update.

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

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