DBRS Morningstar Publishes Updated Global Methodology for Rating Mortgage Insurance Companies

DBRS Morningstar published an updated version of its “Global Methodology for Rating Mortgage Insurance Companies” (the Methodology).

DBRS Morningstar has conducted a periodic review of the Methodology. This update supersedes the previous version published on January 13, 2021, and is effective as of December 7, 2021. DBRS Morningstar deems the update not to be material and has determined that no ratings are expected to change as a result of this update.

With this update, a few minor considerations have been incorporated into the text. In particular, DBRS Morningstar has further clarified that securities issued by mortgage insurance companies are typically not rated higher than their domestic sovereign. DBRS Morningstar has also provided additional details regarding the notching treatment of hybrids that convert to preferred shares.

Notes:
DBRS Morningstar methodologies are publicly available on its website www.dbrsmorningstar.com under Methodologies & Criteria.

For more information on this methodology or on this industry, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.