DBRS Launches European Corporate Ratings Initiative

Canadian-based rating agency, DBRS, today announced its plan to expand its corporate ratings coverage in Europe.

The focus of this new initiative will be in countries such as Spain, Italy, France and Portugal, where DBRS already has a strong and growing presence.

"Increased choice matters," said Detlef Scholz, DBRS Head of Europe. "It is good for individual companies and good for investors. As one of only four agencies whose ratings are used by the ECB in their asset purchasing programmes, we are ready to invest and to play our full part in providing additional rating coverage."

DBRS, the world’s fourth-largest rating agency, is a growing, international ratings business with a presence in North America and Europe. The European business has been developing quickly and is increasingly recognised as making an important contribution to the diversity of credit opinions.

"As a company we are not new to the Corporate Ratings sector," said Eric Beauchemin, Managing Director and Head of the Global Corporate Ratings Group. "For four decades we have been providing ratings for large corporates and mid-sized companies around the world, including some of the leading companies in Europe. We will be drawing upon all of our global experience and expertise to support our locally-based European team."

Today's announcement is part of the company’s broader plans to make targeted investments to meet the growing needs of customers and investors worldwide. Deepening coverage in Europe to non-financial corporates by building a local, dedicated team with language and industry expertise is a logical next step and builds on the success in recent years in the Structured Finance, Financial Institutions and Sovereign Ratings Groups in Europe.

DBRS believes it is uniquely positioned to be a strong participant in this sector. Its approach, and its size, allow it to be nimble enough to respond to customers’ needs in their local markets, but large enough to provide the necessary expertise and resources.

Founded in 1976, DBRS is an independent, privately held, globally recognised credit ratings agency with offices in Toronto, New York, London and Chicago. DBRS strives to differentiate itself from its competitors through a more pragmatic rather than mechanistic approach, in-depth research products and unequalled mandate execution.

Media Contact
Stephen Bernard
Vice President, Research & Communications
+1 212 806 3240
sbernard@dbrs.com