DBRS and Morningstar Credit Ratings Confirm U.S. Tax Credits and U.S. Life Insurance and Life Annuity Contracts Asset Class Coverage

On July 11, 2019, Morningstar Credit Ratings, LLC (MCR) and DBRS, Inc. (DBRS; together, DBRS Morningstar) published their first announcement regarding the integration of the analytical teams focused on the U.S. Structured Finance market. Today’s press release is the thirty-first in a series to keep the market updated on analytical integration decisions and is focused on the U.S. asset-backed securities (ABS) sector.

<a href="https://www.dbrs.com/research/347875/" target="_blank">"DBRS and Morningstar Credit Ratings Announce Analytical Integration Process and Ratings Overlap"</a>

TAX CREDITS ASSET CLASS
Following an analysis of the Tax Credits asset class, DBRS Morningstar concluded that, effective today, any new rating engagements in this asset class will be rated and monitored by DBRS Morningstar using MCR’s “U.S. ABS General Ratings Methodology.” This methodology is now available on www.dbrsmorningstar.com.

LIFE INSURANCE AND LIFE ANNUITY CONTRACT (LILAC) ASSET CLASS
Following an analysis of the LILAC asset class, DBRS Morningstar concluded that, effective today, any new rating engagements in this asset class will be rated and monitored by DBRS Morningstar using MCR’s “U.S. ABS General Ratings Methodology.” This methodology is now available on www.dbrsmorningstar.com:

<a href="https://www.dbrs.com/research/362092/" target="_blank">"U.S. ABS General Ratings Methodology"</a>

DBRS Morningstar methodologies, including any MCR methodology selected for use by DBRS Morningstar as part of the analytical integration process, are publicly available on www.dbrsmorningstar.com under Methodologies & Criteria.

For analytical inquiries regarding this press release, please contact Chris D’Onofrio, Managing Director, U.S. ABS.

DBRS
Chris D’Onofrio
chris.donofrio@dbrsmorningstar.com
+1 212 806-3284

For rating engagement inquiries regarding the U.S. ABS asset class coverage or any asset classes not listed, please contact Sean O’Connor, Managing Director, Head of Global Business Development.

DBRS
Sean O’Connor
sean.oconnor@dbrsmorningstar.com
+1 212 806-3252

For more information on the transactions rated by DBRS, please visit www.dbrsmorningstar.com or contact DBRS at info@dbrsmorningstar.com. For transactions rated by MCR, please visit www.morningstarcreditratings.com or contact ratingagency@morningstar.com.

DBRS
Stephen Bernard
stephen.bernard@dbrsmorningstar.com
+1 212 806-3240