DBRS Publishes Methodology with Updated Addenda on Spanish, Dutch and Italian RMBS

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

This methodology presents the criteria on which Spanish, Dutch and Italian RMBS and, where relevant, covered bonds ratings are based.

The methodology is effective as of 13 March 2014.

Implementation of the revised methodology will not impact current ratings.

Changes since the publication of the previous methodology in November 2013 relate to movement to case by case cost of sale assumptions for foreclosed property in Spain and Italy, rather than predefined values. 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.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.