Global Credit Insights from Morningstar DBRS - May 2025

This publication highlights some of the most pertinent research issued by Morningstar DBRS for the global market as follows:

-- Residential Construction in Spain Remains Slow Despite Price Increases and Sizeable Demand

-- U.S. Tariffs on Chinese Imports Negatively Affecting the U.S. West Coast Ports

-- Quarterly Middle Market Credit Ratings Update: Downgrades Accelerate as Weak Borrowers Confront Challenges

-- Auto OEMs' Suspension of Earnings Guidance Understandable Given Ongoing Lack of Tariff Clarity

-- CRE Lending Continued to Pressure German Banks' Asset Quality in 2024

-- Occupational Pensions: An Opportunity for Governments and Financial Institutions in an Ageing Europe

-- U.S. RMBS Frontline Perspectives: Mortgage Rates Inch Lower, Housing Mixed, While RMBS Volumes Up

-- Morningstar DBRS Ratings Activity