DBRS Releases Updated Critical Obligations Rating Criteria: No rating changes

DBRS has released its updated Critical Obligations Rating (COR) Criteria which is effective as of today. This supersedes the existing criteria published on 2 February 2016.

The updated document contains small changes which were made for clarification and to update the language to reflect the evolving regulatory environment. Accordingly, this update has not resulted in any rating changes or other rating actions and was therefore not published with a request for comment.

The COR Criteria address the risk of default of particular obligations of certain banks that are considered critical. In DBRS’s view, these obligations have a higher probability of being excluded from bail-in and remaining in a continuing bank in the event of a resolution over other senior unsecured obligations under the implementation of the Bank Recovery and Resolution Directive (BRRD). To date, DBRS has assigned Critical Obligations Ratings to 34 publicly rated banks in Europe.

DBRS criteria and methodologies are publicly available on its website www.dbrs.com under Methodologies.
For more information on ratings for banks and other financial institutions, visit www.dbrs.com or contact us at info@dbrs.com.

This methodology is intended for use in ratings assigned by DBRS Limited, DBRS, Inc. and DBRS Ratings Limited.