DBRS Morningstar Requests Comments on Proposed Combination of Certain Corporate Criteria

On October 30, 2023, DBRS Morningstar published an announcement regarding the Fundamentals Methodology Integration Project: https://www.dbrsmorningstar.com/research/422623/dbrs-morningstar-announces-fundamentals-methodological-integration-project.

In connection with the project, DBRS Morningstar is requesting comments on the proposed combination of the following corporate criteria (being all corporate criteria except for “DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings,” which remains a separate document):

-- DBRS Morningstar Global Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Relationships
-- DBRS Morningstar Global Criteria: Guarantees and Other Forms of Support
-- DBRS Morningstar Global Criteria: Recovery Ratings for Instruments of Non-Investment-Grade Corporate Issuers
-- DBRS Morningstar Global Criteria: Common Adjustments for Calculating Financial Ratios
-- DBRS Morningstar Global Criteria: Commercial Paper Liquidity Support for Nonbank Issuers
-- DBRS Morningstar Global Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers

(the Combined Criteria), which may, upon the close of the Request for Comment period, supersede the versions published on September 27, 2023; March 28, 2023; August 30, 2023; November 9, 2023; February 24, 2023; and October 19, 2023, respectively. DBRS Morningstar deems the proposed update not to be material and has determined that no outstanding ratings are expected to change as a result of this update.

Comments should be received on or before January 31, 2024. Please submit your comments to the following email address:

[email protected]

DBRS Morningstar publishes on its website all comments received except in cases where confidentiality is requested by the respondent.

The Combined Methodology brings together the aforementioned methodologies into one document without changes to any of the analytic content. Removal of redundant material and other editing has been done to streamline the document.

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 [email protected].