Morningstar DBRS Publishes Updated Global Methodology for Rating Non-Bank Financials

Morningstar DBRS published an updated version of the Global Methodology for Rating Nonbank Financial Institutions.

With the publication of the updated methodology, Morningstar DBRS renamed Appendix C to "Appendix C: Specialized Risk Profile Grid for Rental Companies" and broadened the Grid language to address the risk profile of both car and equipment rental companies. The NBFI methodology has been used to rate equipment rental companies whose risks in managing their equipment is similar to rental car companies' fleet management. The broadening of the Grid language does not result in a change in Morningstar DBRS' credit analysis and thus will have no impact on the existing credit ratings.

Morningstar DBRS conducted a periodic review of Global Methodology for Rating Non-Bank Financial Institutions. This update supersedes the previous version published on April 15, 2024 and is effective as of September 4, 2024. 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.

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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.