DBRS Morningstar Releases Commentary on Risk Exposure of European CMBS to COVID-19

DBRS Morningstar released a commentary titled “European CMBS Transactions' Risk Exposure to Coronavirus (COVID-19) Effect”.

As the Coronavirus Disease (COVID-19) continues to spread, all aspects of the economy, including consumers and businesses, are under extraordinary pressure. Across Europe, governments and central banks have taken unprecedented measures to mitigate the negative economic effects of this pandemic. These include unemployment income support, tax deferral or waivers, moratoria on loan payments and, measures supporting credit supply to businesses.

DBRS Morningstar examined the current CMBS transactions based on the moderate scenario outlined in its “Global Macroeconomic Scenarios: Implications for Credit Ratings” commentary, initially published on 16 April 2020 and updated on 1 June 2020. This commentary summarises the impacts expected by DBRS Morningstar on different property types and maturity profiles.

For more details, please read “European CMBS Transactions' Risk Exposure to Coronavirus (COVID-19) Effect” available at www.dbrsmorningstar.com.

Notes:
A copy of this commentary is available at www.dbrsmorningstar.com.

For more information regarding DBRS Morningstar ratings, including definitions, policies, and methodologies, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

DBRS Ratings GmbH
Neue Mainzer Straße 75
60311 Frankfurt am Main Deutschland
Tel. +49 (69) 8088 3500
Geschäftsführer: Detlef Scholz
Amtsgericht Frankfurt am Main, HRB 110259