Baseline Macroeconomic Scenarios: Application to Credit Ratings
This commentary updates the April 22, 2020, commentary entitled “Global Macroeconomic Scenarios: Application to Credit Ratings.” This update follows on from the retirement of the moderate and adverse macroeconomic scenarios.We are now of the opinion that historical experience and past recessions provide an adequate guide for the future effects of the Coronavirus Disease (COVID-19) pandemic in most sectors. As such, we will no longer make adjustments in our analysis by reference to a specific macroeconomic scenario. As has always been the case, analytical groups will continue to determine appropriate assumptions, which may include adjustments to expected performance, for each sector and credit in light of its specific circumstances.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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