DBRS Morningstar Publishes Global Non-Bank Financial Institutions Grid Summaries for 20 NBFIs

DBRS Morningstar has published the Grid Summaries that underpin the analysis of 20 publicly rated non-bank financial institutions (NBFIs). The Grid Summaries are being made public to improve the transparency to the market of DBRS Morningstar’s ratings and underlying analysis. Going forward, the Grid Summaries will be included in the press releases and reports of each NBFI, but this document brings together all NBFIs’ Grid Summaries in one place.

The Grids form the core of our analytical approach to reaching an opinion on an NBFI’s Intrinsic Assessment (IA). They comprise five building blocks: Franchise Strength, Earnings Power, Risk Profile, Funding & Liquidity, and Capitalisation, with a number of subfactors for each building block.

The Grids reflect qualitative, as well as quantitative measures and contain forward looking views, including the impact of the operating environment on an NBFI’s fundamentals. The range of assessments by subfactor and building block comprises: “Very Strong”, “Strong”, “Good”, “Moderate”, “Weak”, and “Very Weak” and the assessments for each building block are included in this publication. A more detailed discussion of their application is provided in the Global Methodology for Rating Non-Bank Financial Institutions (September 2023).

Please see the accompanying Grid Summaries titled: “DBRS Morningstar: Global Non-Bank Financial Institutions Methodology Grid Summaries”.

Notes:
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 info@dbrsmorningstar.com.