DBRS Publishes Methodology with Updated Addendum on Irish RMBS

DBRS Ratings Limited has today published its “Master European Residential Mortgage-Backed Securities Rating Methodology and Jurisdictional Addenda” with an updated addendum on Irish residential mortgage-backed securities (RMBS).

This methodology presents the criteria on which Irish RMBS and covered bonds ratings are based.

The methodology is effective as of 12 November 2013.

DBRS does not anticipate any rating actions as a result of the revised methodology.

Changes since the publication of the previous methodology in February 2013 relate to immaterial amendments to region-specific default penalties and the narrative on how DBRS would analyse positively selected asset pools from originations made shortly prior to the onset of the global financial crisis. DBRS has concluded that the changes in this updated methodology are immaterial. DBRS has not published a request for comment.

DBRS criteria and methodologies are publicly available on its website www.dbrs.com under Methodologies.