DBRS Publishes Two Updated Corporate Finance Methodologies

DBRS has today published two updated corporate finance methodologies as follows:

-- Commercial Paper Liquidity Support for Non-Bank Issuers; and
-- General Corporate Methodology.

No ratings have changed as a result of the update to these two methodologies.

The commercial paper (CP) liquidity criteria contains DBRS’s requirements for CP liquidity backup for corporate issuers, non-bank finance companies, pension funds and municipal and regional governments. This methodology update provides greater detail in Appendix C regarding DBRS’s requirements for issuers that wish to pledge cash or marketable securities as a form of CP liquidity in place of the usual committed bank facilities. Other changes provide additional clarity, but are not substantive.

In its appendices, the General Corporate Methodology contains DBRS’s “credit specific methodologies” which summarize the business and financial risk factors for certain unique issuers that do not fall neatly within the domain of other DBRS methodologies. Changes here provide additional clarity, but are not substantive.

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

These methodologies and criteria are available by contacting us at info@dbrs.com.