Morningstar DBRS Publishes Updated Methodology for Mapping Financial Institution Internal Ratings to Morningstar DBRS Credit Ratings for Global Structured Credit Transactions

Morningstar DBRS published an updated version of the “Mapping Financial Institution Internal Ratings to Morningstar DBRS Credit Ratings for Global Structured Credit Transactions” methodology.

Morningstar DBRS conducted a periodic review of the “Mapping Financial Institution Internal Ratings to DBRS Morningstar Credit Ratings for Global Structured Credit Transactions” methodology.

We attached this methodology as an appendix to “Global Methodology for Rating CLOs and Corporate CDOs” called “Appendix II: Mapping Financial Institution Internal Ratings to Morningstar DBRS Credit Ratings” and retired the stand-alone methodology. Morningstar DBRS made nonmaterial changes to “Appendix II: Mapping Financial Institution Internal Ratings to Morningstar DBRS Credit Ratings” compared with the stand-alone methodology, including changes related to applicable financial institutions eligible for rating mapping and minor editorial changes. Morningstar DBRS also made nonmaterial changes to the “Morningstar DBRS Global Structured Finance Related Methodologies” document and the “Rating CLOs Backed by Loans to European SMEs” methodology to update references to the new Appendix II and minor editorial changes.

This update supersedes the previous version published February 17, 2023, and is effective as of February 23, 2024. Morningstar DBRS deems the update not to be material and determined that no ratings are expected to change as a result of this update.

Notes:
Morningstar DBRS methodologies are publicly available on its website dbrs.morningstar.com under Methodologies & Criteria.

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