Press Release

Morningstar DBRS Publishes Updated Methodology for Rating U.S. Property Assessed Clean Energy (PACE) Securitizations

Property Assessed Clean Energy (PACE)
May 28, 2025

Morningstar DBRS published an updated version of "Rating U.S. Property Assessed Clean Energy (PACE) Securitizations" (the Methodology).

Morningstar DBRS has conducted a periodic review of the Methodology. Morningstar DBRS deems the update not to be material and determined that no ratings are expected to change as a result of this update. This update supersedes the previous version published on August 6, 2024, and is effective as of May 28, 2025.

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.