DBRS Publishes Two Updated Corporate Finance Methodologies

DBRS has today published the following two updated corporate finance methodologies:

(1) Rating Entities in the Real Estate Industry and
(2) DBRS Criteria: Financial Ratio Definitions and Accounting Adjustments — Non-Financial Companies.

These updates supersede the previous versions published in February 2017 and April 2016, respectively. While certain details have been clarified in these methodologies (including those noted below), changes overall are not substantive and DBRS has determined that no ratings have changed as a result of these updates.

Per the press release dated September 2, 2016, DBRS is incorporating the following changes in certain of its corporate finance methodologies (including the first methodology listed above) as they are published over the coming year:

(1) A description of each business risk assessment (BRA) factor in the BRA grid;
(2) A range for the B-range financial risk assessment (FRA) metrics to show the interface of the B and CCC ranges, where applicable; and
(3) A new appendix that provides definitions of the FRA metrics (which have historically been included in, and will continue to be a part of, “DBRS Criteria: Financial Ratio Definitions and Accounting Adjustments — Non-Financial Companies”).

Notes:
DBRS rating definitions and the terms of use of such ratings are available at www.dbrs.com.

DBRS’s methodologies and criteria are available at www.dbrs.com or by contacting us at info@dbrs.com.