DBRS Publishes Updated European NPL Securitisations Methodology

DBRS has today published its updated “Rating European Non-Performing Loans Securitisations” methodology (the Methodology). Publication of the Methodology follows the conclusion of the Request for Comment period, which began on 26 April 2016. DBRS did not receive any comments on the proposed Methodology update.

The Methodology, effective today, supersedes the methodology “Rating European Non-Performing Loans Securitisations,” last published in November 2015. DBRS does not currently rate any transactions under the aforementioned methodology; as such, no rating actions will be taken as a result of this update.

The changes to the Methodology are not deemed to be material. The Methodology clarifies and expands on the analytical treatment of larger (exceeding 1% to 2% of the total pool) and secured exposures in European non-performing loans securitisations. The changes are being made to accommodate assets typical in European non-performing loans transactions.

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.