Morningstar DBRS Publishes Final Global Methodology for Rating Entities in the Real Estate Industry

Morningstar DBRS finalized its "Global Methodology for Rating Entities in the Real Estate Industry" (the Methodology).

This methodology is being published in connection with the Fundamental Methodological Integration Project (see announcement dated October 30, 2023, for details: https://dbrs.morningstar.com/research/422623).

The Methodology presents the principal criteria for which credit ratings for corporate issuers in the real estate industry are assigned and/or monitored.

The Methodology supersedes the prior version published on April 15, 2024, and is effective as of June 20, 2025.

The Methodology generally focuses on providing greater transparency on Morningstar DBRS' credit rating process and is designed to refine analytic frameworks and methodologies across Morningstar DBRS. Over the course of 2025, Morningstar DBRS will continue its efforts as part of the Fundamental Methodological Integration Project relating to certain other corporate methodologies.

While there are no significant changes to the analytical approach, Morningstar DBRS deems the updates to be material. No outstanding credit ratings are expected to change as a result of these updates.

The finalization of the Methodology follows the conclusion of the request for comment period that began on April 14, 2025. Morningstar DBRS did not receive any comments during the request for comment period.

Morningstar DBRS publishes on its website all comments received during the request for comment period, 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.