DBRS Morningstar Releases Updated Corporate Risk Assessment Scorecard for the Merchandisers Industry

DBRS Limited (DBRS Morningstar) released an updated business and financial risk assessment scorecard for publicly rated entities in the merchandisers industry, which reflects rating actions as of April 6, 2023.

ENVIRONMENTAL, SOCIAL, GOVERNANCE CONSIDERATIONS
There were no Environmental/Social/Governance (ESG) factors that had a significant or relevant effect on the credit analysis.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/396929 (May 17, 2022).

Notes:
DBRS Morningstar applied the following principal methodology:
-- Global Methodology for Rating Companies in the Merchandising Industry (September 2, 2022) https://www.dbrsmorningstar.com/research/402334

The credit rating methodologies used in the analysis of this transaction can be found at: https://www.dbrsmorningstar.com/about/methodologies.

A description of how DBRS Morningstar analyzes corporate finance transactions and how the methodologies are collectively applied can be found at: https://www.dbrsmorningstar.com/research/397223.

Information regarding DBRS Morningstar ratings, including definitions, policies, and methodologies, is available on www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

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