Methodology
European CMBS Rating and Surveillance Methodology (Archived)
CMBSAvailable Documents
Related Documents
Press Release:
- Morningstar DBRS Takes Rating Actions on ERNA S.r.l.
- Morningstar DBRS Confirms Credit Rating on Ortles 21 S.r.l.
- Morningstar DBRS Downgrades Credit Ratings on FROSN-2018 DAC
- Morningstar DBRS Downgrades Credit Ratings on 2Worlds S.r.l.
- Morningstar DBRS Confirms Credit Ratings on Magritte CMBS NV/SA
- Morningstar DBRS Confirms Credit Rating on Logicor 2019-1 UK PLC
- Morningstar DBRS Confirms Credit Ratings on Cassia 2022-1 S.R.L.
- Morningstar DBRS Confirms Credit Ratings on Taurus 2021-1 UK DAC
- Morningstar DBRS Discontinues Credit Ratings on Magenta 2020 PLC
- Morningstar DBRS Confirms Credit Ratings on Frost CMBS 2021-1 DAC
- Morningstar DBRS Confirms Credit Ratings on POP NPLs 2019 S.r.l.
- Morningstar DBRS Confirms Credit Ratings on Taurus 2018-1 IT S.R.L.
- Morningstar DBRS Downgrades Credit Ratings on BCC NPLs 2019 S.r.l.
- Morningstar DBRS Confirms Credit Rating on Titan Financing S.à r.l.
- Morningstar DBRS Confirms Credit Ratings on Aragorn NPL 2018 S.r.l.
- Morningstar DBRS Confirms Credit Ratings on Sage AR Funding No.1 Plc
- Morningstar DBRS Discontinues Credit Ratings on Taurus 2019-2 UK DAC
- Morningstar DBRS Takes Credit Rating Actions on Taurus 2021-4 UK DAC
- Morningstar DBRS Takes Credit Rating Actions on 4Mori Sardegna S.r.l.
- Morningstar DBRS Takes Credit Rating Actions on 4Mori Sardegna S.r.l.
- Morningstar DBRS Confirms Credit Ratings on Stark Financing 2023-1 DAC
- Morningstar DBRS Confirms Credit Ratings on Popolare Bari NPLS 2016 S.r.l.
- Morningstar DBRS Confirms Credit Ratings on Popolare Bari NPLS 2017 S.r.l.
- Morningstar DBRS Takes Credit Rating Actions on Elizabeth Finance 2018 DAC
- Morningstar DBRS Assigns Provisional Credit Ratings to Taurus 2025-1 EU DAC
- Morningstar DBRS Discontinues Credit Rating on Class C Notes of ERNA S.r.l.
- Morningstar DBRS Assigns Provisional Credit Ratings to UK Logistics 2024-2 DAC
- Morningstar DBRS Takes Credit Rating Actions on Retiro Mortgage Securities DAC
- Morningstar DBRS Assigns Provisional Credit Ratings to UK Logistics 2024-1 DAC
- Morningstar DBRS Assigns Provisional Credit Ratings to Hera Financing 2024-1 DAC
- Morningstar DBRS Finalises Provisional Credit Ratings on UK Logistics 2024-2 DAC
- Morningstar DBRS Confirms Credit Rating on Penelope SPV S.r.l. With a Stable Trend
- Morningstar DBRS Confirms Credit Rating on Siena NPL 2018 S.r.l. With Stable Trend
- Morningstar DBRS Downgrades Credit Rating on Maggese S.r.l., Removes Negative Trend
- Morningstar DBRS Confirms Credit Ratings of Last Mile Logistics Pan Euro Finance DAC
- Morningstar DBRS Publishes Updated European CMBS Rating and Surveillance Methodology
- Morningstar DBRS Downgrades and Confirms Credit Ratings on Elizabeth Finance 2018 DAC
- Morningstar DBRS Confirms Credit Rating on Veicolo di Sistema S.r.l. With Stable Trend
- Morningstar DBRS Downgrades Credit Rating on ISEO SPV S.r.l., Maintains Negative Trend
- Morningstar DBRS Upgrades Credit Rating on Organa SPV S.r.l., Maintains Positive Trend
- Morningstar DBRS Downgrades Credit Rating on Maior SPV S.r.l., Removes Negative Trend
- Morningstar DBRS Confirms Credit Rating on Palatino SPV S.r.l., Maintains Stable Trend
- Morningstar DBRS Confirms Credit Ratings on SAGE AR Funding 2021 PLC With Stable Trends
- Morningstar DBRS Assigns Provisional Credit Ratings to Dutch Mortgage Finance 2024-1 B.V.
- Morningstar DBRS Discontinues Credit Ratings on Helios (European Loan Conduit No. 37) DAC
- Morningstar DBRS Discontinues Credit Ratings on Oranje (European Loan Conduit No. 32) DAC
- Morningstar DBRS Discontinues Credit Ratings on Scorpio (European Loan Conduit No.34) DAC
- Morningstar DBRS Downgrades Credit Rating on Belvedere SPV S.r.l., Removes Negative Trend
- Morningstar DBRS Downgrades Credit Rating on Leviticus SPV S.r.l., Maintains Negative Trend
- Morningstar DBRS Confirms Credit Rating on Juno 1 S.r.l. at BBB (low) (sf) With Negative Trend
- Morningstar DBRS Finalises Its Provisional Credit Ratings on Dutch Mortgage Finance 2024-1 B.V.
- Morningstar DBRS Confirms Credit Rating on Juno 1 S.r.l., Changes Trend to Stable From Negative
- Morningstar DBRS Confirms Credit Rating on Luzzatti POP NPLs 2023 S.r.l.; Maintains Stable Trend
- Morningstar DBRS Finalises Provisional Credit Ratings on Taurus 2025-1 EU DAC With Stable Trends
- Morningstar DBRS Confirms Credit Rating on Andor SPV S.r.l., Changes Trend to Positive from Stable
- Morningstar DBRS Confirms Credit Rating on Titan SPV S.r.l., Changes Trend to Positive from Stable
- Morningstar DBRS Takes Credit Rating Actions on LSF11 Boson Investments S.à.r.l. (Compartment 2)
- Morningstar DBRS Upgrades and Confirms Credit Ratings on Pietra Nera Uno S.R.L. With Stable Trends
- Morningstar DBRS Changes Trends on Bruegel 2021 DAC to Negative from Stable, Confirms Credit Ratings
- Morningstar DBRS Upgrades Credit Rating on Aurelia SPV S.r.l., Changes Trend to Positive from Stable
- Morningstar DBRS Upgrades and Confirms Credit Ratings on Two Dutch Property Finance B.V. Transactions
- Morningstar DBRS Assigns Provisional Credit Ratings to Thunder Logistics 2024-1 DAC With Stable Trends
- Morningstar DBRS Downgrades Class A and Confirms Class B Credit Ratings on Brisca Securitisation S.r.l.
- Morningstar DBRS Places Credit Rating on Buonconsiglio 3 S.r.l. Under Review With Negative Implications
- Morningstar DBRS Upgrades and Confirms Credit Ratings on Three Dutch Property Finance B.V. Transactions
- Morningstar DBRS Upgrades and Confirms Credit Ratings on Three Dutch Property Finance B.V. Transactions
- Morningstar DBRS Assigns a Provisional Credit Rating to Vantage Data Centers Jersey Borrower SPV Limited
- Morningstar DBRS Finalises Provisional Credit Ratings on Classes A to E notes of UK Logistics 2024-1 DAC
- Morningstar DBRS Finalises Provisional Credit Ratings on Thunder Logistics 2024-1 DAC With Stable Trends
- Morningstar DBRS Assigns Credit Rating of BBB (high) (sf), Stable Trend, to Luzzatti POP NPLs 2024 S.r.l.
- Morningstar DBRS Confirms Credit Ratings on Berg Finance 2021 DAC, Changes Trends to Negative from Stable
- Morningstar DBRS Downgrades Credit Rating on Maior SPV S.r.l., Maintains Negative Trend on Class A Notes
- Morningstar DBRS Downgrades Credit Ratings on Salus (European Loan Conduit No. 33) DAC With Negative Trends
- Morningstar DBRS Finalises Provisional Credit Ratings on Classes A to F Notes of Hera Financing 2024-1 DAC
- Morningstar DBRS Places All Classes of River Green Finance 2020 DAC Under Review with Negative Implications
- Morningstar DBRS Upgrades Credit Rating on Class A Notes Issued by Grogu SPV S.r.l., Trend Remains Positive
- Morningstar DBRS Upgrades Credit Rating on Class A Notes Issued by Sirio NPL S.r.l., Trend Remains Positive
- Morningstar DBRS Finalises Its Provisional Credit Rating on Vantage Data Centers Jersey Borrower SPV Limited
- Morningstar DBRS Discontinues Credit Ratings on Pearl Finance 2020 DAC and Usil European Loan Conduit No. 36 DAC
- Morningstar DBRS Confirms the Credit Ratings on Deco 2019 - Vivaldi S.r.l., Changes Trend to Stable from Negative
- Morningstar DBRS Confirms Credit Rating of BBB (sf), Changes Trend to Stable from Negative on Buonconsiglio 4 S.r.l.
- Morningstar DBRS Confirms Credit Rating on Class A Notes Issued by Prosil Acquisition S.A., Changes Trend to Negative
- Morningstar DBRS Confirms BBB (low) (sf) Credit Rating on Class A Notes Issued by Juno 2 S.r.l.; Maintains Stable Trend
- Morningstar DBRS Maintains Under Review With Negative Implications Status on Viridis (European Loan Conduit No. 38) DAC
- Morningstar DBRS Downgrades Credit Rating on Class B Notes Issued by Ibla S.r.l.; Confirms Credit Rating on Class A Notes
- Morningstar DBRS Places All Classes of Viridis (European Loan Conduit No. 38) DAC Under Review With Negative Implications
- Morningstar DBRS Confirms Credit Rating on Class A Notes Issued by Diana SPV S.r.l., Changes Trend to Positive from Stable
- Morningstar DBRS Places All Classes of Oranje (European Loan Conduit No. 32) DAC Under Review With Developing Implications
- Morningstar DBRS Changes Trend to Negative From Stable on Class B Notes Issued by POP NPLs 2020 S.r.l., Confirms Credit Ratings
- Morningstar DBRS Downgrades Credit Ratings on Emerald Italy 2019 S.r.l.; Maintains Negative Trends on the Class A and Class B Notes
- Morningstar DBRS Downgrades Credit Rating on Class A Notes Issued by BCC NPLs 2018-2 S.r.l. and Confirms Credit Rating on Class B Notes
- Morningstar DBRS Downgrades Credit Rating on Luzzatti POP NPLs 2021 S.r.l. to BB (high) (sf) from BBB (sf) and Maintains Negative Trend
- Morningstar DBRS Downgrades and Confirms Credit Ratings on Notes Issued by Salus (European Loan Conduit No. 33) DAC with Negative Trend
- Morningstar DBRS Places Credit Ratings on All Classes of HAUS (European Loan Conduit No. 39) DAC Under Review with Negative Implications
- Morningstar DBRS Confirms BBB (high) (sf) Credit Rating on Class A Notes Issued by Yoda SPV S.r.l., Changes Trend to Positive From Stable
- Morningstar DBRS Confirms Credit Rating on the Class A Notes Issued by Hestia Financing S.à r.l., Changes Trend to Positive from Negative
- Morningstar DBRS Confirms Credit Ratings on Deco 2019 - Vivaldi S.R.L. with Negative Trends; Removes from Under Review with Positive Implications
- Morningstar DBRS Discontinues and Withdraws Credit Rating on Senior Commercial Real Estate Loan Advanced to Entities Owned and Managed by Blackstone
- Morningstar DBRS Downgrades Credit Ratings on River Green Finance 2020 DAC With Negative Trends, Removes From Under Review With Negative Implications
- Morningstar DBRS Confirms BBB (high) (sf) Credit Rating on Class A Notes Issued by Capella Financing S.à r.l., Changes Trend to Positive from Negative
- Morningstar DBRS Confirms Credit Rating on Senior Commercial Real Estate Loan Advanced to Entities Owned and Managed by Blackstone; Trend Remains Stable
- Morningstar DBRS Upgrades and Confirms Credit Ratings on Pietra Nera Uno S.R.L. with Stable Trends; Removes from Under Review with Positive Implications
- Morningstar DBRS Downgrades Credit Ratings on Haus (European Loan Conduit No. 39) DAC With Negative Trends, Removes All Classes from Under Review With Negative Implications
- Morningstar DBRS Downgrades Credit Rating on Buonconsiglio 3 S.r.l. to B (sf) from BBB (sf), Removes from Under Review with Negative Implications Status, and Assigns Negative Trend
- Morningstar DBRS Places Credit Ratings on Eight Dutch RMBS Transactions Under Review with Positive Implications Following Update to European RMBS Insight: Dutch Addendum Methodology
- Morningstar DBRS Upgrades and Confirms Credit Ratings on Four Dutch Property Finance B.V. Transactions Following Update to European RMBS Insight Methodology, Appendix 6 -- Dutch Addendum
- Morningstar DBRS Upgrades Credit Rating on Class B Notes Issued by European Residential Loan Securitisation 2019-NPL2 DAC, Confirms Credit Rating on Class C Notes and Changes Trend to Positive from Stable
Contacts
Mirco Iacobucci
Senior Vice President, Sector Lead - European Commercial Real Estate Ratings
+(44) 20 7855 6653
mirco.iacobucci@morningstar.com- Christian Aufsatz
Managing Director - European Structured Finance Ratings
+(44) 20 7855 6664
christian.aufsatz@morningstar.com - Claire Mezzanotte
Group Managing Director, Global Head of Structured Finance Ratings - Credit Ratings Leadership
+(1) 212 806 3272
claire.mezzanotte@morningstar.com