DBRS Morningstar Releases 2022 Fundamental and Structured Finance Rating Transition and Default Studies

DBRS Morningstar released its 2022 transition and default studies for fundamental and structured finance ratings. The annual fundamental study is the 18th default and 17th rating transition update. The annual structured finance study is the 15th default and 17th rating transition update. Please refer to the appropriate study for a detailed analysis of the fundamental issuers and structured finance transactions rated by DBRS Morningstar.

For the rating transitions presented in the fundamental study, detail is provided for the individual areas of corporate, financial services, public finance, insurance, and sovereigns credit performance. The structured finance study represents securities issued in Canada, the U.S., and Europe in the following sectors: asset-backed securities, commercial mortgage-backed securities, residential mortgage-backed securities, medium-term notes issued by asset-backed commercial paper conduits, and structured credit transactions.

DBRS Morningstar is a global credit ratings business with approximately 700 employees in eight offices worldwide. DBRS Morningstar is the world’s fourth-largest credit ratings agency and a market leader in Canada, Europe, and the U.S. in multiple asset classes. DBRS Morningstar rates more than 4,000 issuers and 60,000 securities worldwide and strives to bring more clarity, diversity, and responsiveness to the ratings process. DBRS Morningstar’s approach provides the ability to respond to customers’ needs while its size provides the necessary expertise and resources.

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The studies are available at www.dbrsmorningstar.com.

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/baseline-macroeconomic-scenarios-application-to-credit-ratings.

For more information on these industries, visit www.dbrsmorningstar.com or contact us at [email protected].