Morningstar DBRS Releases 2024 Fundamental and Structured Finance Credit Rating Transition and Default Studies

Morningstar DBRS released its 2024 transition and default studies for fundamental and structured finance credit ratings. The annual fundamental study is the 20th default and 19th credit rating transition update. The annual structured finance study is the 17th default and 19th credit rating transition update. Please refer to the appropriate study for a detailed analysis of the fundamental issuers and structured finance transactions rated by Morningstar DBRS.

For the credit rating transitions presented in the fundamental study, detail is provided for the individual areas of corporate, financial services, public finance, insurance, and sovereigns credit performance. The structured finance study represents securities issued in Canada, the U.S., and Europe in the following sectors: asset-backed securities, commercial mortgage-backed securities, residential mortgage-backed securities, medium-term notes issued by asset-backed commercial paper conduits, and structured credit transactions.

Morningstar DBRS is a global credit ratings business with approximately 700 employees in eight offices worldwide. Morningstar DBRS is the world's fourth-largest credit ratings agency and a market leader in Canada, Europe, and the U.S. in multiple asset classes. Morningstar DBRS rates more than 4,000 issuers and 60,000 securities worldwide and strives to bring more clarity, diversity, and responsiveness to the credit ratings process. Morningstar DBRS' approach provides the ability to respond to customers' needs while its size provides the necessary expertise and resources.

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The studies are available at dbrs.morningstar.com.

For more information on these industries, visit dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.