Morningstar DBRS Publishes Updated North American Single-Asset/Single-Borrower Ratings Methodology

Morningstar DBRS published an updated version of its North American Single-Asset/Single-Borrower Ratings Methodology.

In this update, Morningstar DBRS is implementing administrative and editorial updates. This update to the methodology supersedes the previous version published on March 1, 2024, and is effective as of July 11, 2024.

As part of these updates, Morningstar DBRS transitioned the description of the First Loss credit ratings (from the Appendix C—First Dollar Loss Ratings for Certain Large/Single-Borrower Commercial Mortgages) to the Morningstar DBRS Credit Ratings Global Policy (First Loss Credit Ratings). For additional transparency, Morningstar DBRS uses the suffix (of) to denote these First Loss credit ratings. The outstanding First Loss credit ratings will be published with the suffix (of) on the Morningstar DBRS website following their next surveillance review. Morningstar DBRS deems the update not to be material and determined that no credit 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 info-DBRS@morningstar.com.