Morningstar DBRS Releases Quarterly U.S. RMBS Credit Rating Action Summary for Q1 2025

Morningstar DBRS released its Quarterly U.S. Residential Mortgage-Backed Securities (RMBS) Credit Rating Action Summary report for Q1 2025

The report provides an overview of Morningstar DBRS' credit rating actions, including the results of annual surveillance reviews in the most recent quarter, and new issuance credit rating actions on RMBS transactions aggregated from the start of the year through the first quarter of the year 2025. Also included are summaries of 10-year historical credit rating snapshots, as well as summaries of Q1 2025 credit rating activity by subsector, by legacy vs nonlegacy portfolio, and by transition type and size.

In Q1 2025, Morningstar DBRS took surveillance credit rating actions on 3,880 tranches across 361 U.S. RMBS transactions.. The surveillance credit rating actions included the following:
-- Credit rating confirmations for 3,096 classes;
-- Credit rating upgrades for 686 classes;
-- No credit rating downgrades; and
-- Credit rating discontinuations for 98 classes.

Notes:
The report is available at https://dbrs.morningstar.com.

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

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