Stable Outlook for PACE ABS in 2022 Amid Expected Market Expansion for C-PACE
Despite a challenging environment amid the ongoing Coronavirus Disease (COVID-19) pandemic, the property assessed clean energy (PACE) industry remained resilient in 2021. From a credit perspective, DBRS Morningstar has a stable outlook for PACE assets in 2022. We believe both commercial PACE (C-PACE) and residential PACE (R-PACE) securitizations will continue to perform as expected as they did in 2021. To date, delinquencies have been minimal and principal losses have been nonexistent across DBRS Morningstar-rated PACE securitizations.
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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