Dominion
From AlacraWiki
DATABASE:
Dominion
PUBLISHER:
DESCRIPTION:
Dominion Bond Rating Service (DBRS) is a full-service credit rating agency established in 1976. Privately owned and operated without affiliation to any financial institution, DBRS is respected for its independent, third-party evaluations of corporate and government issues, spanning North America, Europe and Asia. DBRS’ extensive coverage of securitizations and structured finance transactions solidifies their standing as a leading provider of comprehensive, in-depth credit analysis.
Since its inception in 1976, DBRS has worked at continuously refining its expertise in the analysis of credit quality. Investors and borrowers have come to rely on DBRS ratings as the standard in the Canadian marketplace, based on the consistency, objectivity and unbiased approach taken for each rating. Although some of DBRS’ views and ratings have been disputed on occasion, the market cannot question their integrity. It is this market acceptance that forms the foundation of DBRS’ credibility, a characteristic that is born of their many years of experience and one that defines them as a valuable source of credit market insight.
Fundamentally defined, credit ratings are forward-looking measures that assess an issuer’s ability and willingness to make timely payments of principal and interest. Any credit rating is never static, as the economic and competitive environment in which many companies operate is constantly changing. DBRS ratings for cyclical companies address credit risk through the cycle and do not contemplate rating changes as business cycles move, unless these moves result in a fundamental weakening of the credit. As such, DBRS accounts for risk through the business cycle by allowing a degree of variability in relative creditworthiness within each rating category. This allows credit quality to fluctuate within the bounds of the rating, without requiring an upgrade or downgrade. Credit ratings are not buy, hold, or sell recommendations, but rather the result of qualitative and quantitative analysis focusing solely on the credit quality of the issuer and its underlying obligations. Furthermore, DBRS and its analysts have no involvement in the pricing or trading of rated securities.
