Morningstar DBRS Publishes Updated Legal Criteria for U.S. Structured Finance

Morningstar DBRS finalized its "Legal Criteria for U.S. Structured Finance" (the Methodology).

The Methodology presents the legal criteria by which U.S. Structured Finance transaction credit ratings are assigned and/or monitored. The methodology supersedes the prior version published on April 15, 2024, and is effective as of October 28, 2024.

The Methodology expands the description of Morningstar DBRS' approach to derivatives and hedging arrangements and also includes minor editorial changes. Morningstar DBRS deems these updates to be material as a result of the expansion to the description of its approach to derivatives and hedging arrangements. Morningstar DBRS has determined that no credit ratings are expected to change as a result of this update.

The finalization of the Methodology follows the conclusion of the request for comment period that began on September 9, 2024, and concluded on October 8, 2024. Morningstar DBRS received no comments during the request for comment period.

All comments received during the request for comment period have been published to the Morningstar DBRS website, except in cases where confidentiality is requested by the respondent.

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

For more information on this methodology or on this industry, visit http://dbrs.morningstar.com or contact us at info-DBRS@morningstar.com