Morningstar DBRS Revises Citizens Financial Group, Inc.'s Trend to Positive; Confirms Long-Term Issuer Rating at A (Low)
Morningstar DBRS confirmed Citizens Financial Group’s long‑term issuer rating at A (low) and upgraded the trend for both the company and its banking subsidiary to Positive. The agency highlighted steady progress on Citizens’ strategic plan, including the 2022 acquisitions of Investors Bancorp and HSBC’s East Coast branches, and a robust private‑banking expansion. Asset quality remains manageable with a declining non‑core‑officer (NCO) ratio, while the CET1 capital ratio sits at 10.5%, the top of its medium‑term range. The positive trend signals confidence in Citizens’ earnings growth and balance‑sheet strength.
Morningstar DBRS Confirms Credit Ratings of Inter Pipeline (Corridor) Inc. At A (Low) and R-1 (Low) With Stable Trends
Morningstar DBRS reaffirmed Inter Pipeline (Corridor) Inc.'s issuer rating at A (low) and its commercial paper rating at R‑1 (low), both with stable trends. The rating rests on a long‑term firm service agreement (FSA) that runs through 2049 and guarantees...
Morningstar DBRS Releases May 2026 Canadian Covered Bond Report
Morningstar DBRS released its May 2026 Canadian Covered Bond Report, the sixth edition of the monthly series. Total outstanding covered bonds slipped to C$277.2 billion (≈US$205 billion), down from C$278.5 billion the month before. The market saw only one new issuance—a Desjardins Legislative...
Morningstar DBRS Assigns Provisional Credit Ratings to EFMT 2026-NQM7
Morningstar DBRS has issued provisional credit ratings for EFMT 2026‑NQM7 mortgage pass‑through certificates, assigning (P) AAA ratings to eight senior tranches totaling $618 million and lower ratings to the remaining classes. The securitization backs $464.4 million of 1,129 fixed‑ and adjustable‑rate residential mortgages,...
Morningstar DBRS Confirms Credit Ratings of Glacier Credit Card Trust
Morningstar DBRS confirmed credit ratings for Glacier Credit Card Trust's outstanding notes, ranging from AAA to A and R‑1 (high). The ratings reflect dynamic over‑collateralization, with enhancement amounts of 12.5%‑13.5% for AAA notes and 6%‑7% for A notes. Payment rates...
Morningstar DBRS Assigns Provisional Credit Ratings to RWC Commercial Mortgage 2026-1 Trust
Morningstar DBRS issued provisional credit ratings for the RWC Commercial Mortgage 2026‑1 Trust, covering seven certificate classes from (P) AAA for senior tranches to (P) B for the lowest tier. The trust holds 54 fixed‑rate multifamily loans worth $285.1 million, averaging $5.3 million each,...
Morningstar DBRS Confirms Credit Ratings on the Secured Notes of Ripple Notes Issuer LLC
Morningstar DBRS confirmed its credit ratings on Ripple Notes Issuer LLC’s secured notes, assigning A (high) to Class A, BBB to Class B, and BB to Class C. The notes are collateralized primarily by a $71.3 million portfolio of senior‑secured middle‑market corporate loans managed...
Morningstar DBRS Confirms Credit Ratings on Alectra Inc. At "A" And R-1 (Low) With Stable Trends
Morningstar DBRS confirmed Alectra Inc.'s issuer and senior unsecured debenture rating at "A" and its commercial paper rating at R‑1 (low), with stable trends. The rating reflects the utility’s predictable regulated electricity distribution business, which generates over 90% of EBITDA,...
Morningstar DBRS Confirms Sollio Cooperative Group's Issuer Rating at BB (High) and Senior Unsecured Notes Credit Rating at BB With...
Morningstar DBRS confirmed Sollio Cooperative Group’s issuer rating at BB (high) and its senior unsecured notes rating at BB, with stable trends. The rating reflects strong FY2025 performance and a prudent capital allocation strategy. Sollio projects revenue of roughly $6.5 billion...
Morningstar DBRS Upgrades and Confirms Credit Ratings on Finance Ireland RMBS No. 7 DAC
Morningstar DBRS confirmed the AAA rating on Class A notes of Finance Ireland RMBS No. 7 DAC and upgraded the lower‑rated tranches—Class B and C to AA, Class D to A—while keeping Class E at BB. The securitisation, launched in June 2024 with a €264.1 million ($285 million)...
Morningstar DBRS Confirms Vancouver City Savings Credit Union's Short-Term Credit Ratings at R-2 (High); Stable Trends
Morningstar DBRS confirmed Vancouver City Savings Credit Union’s short‑term issuer and instrument ratings at R‑2 (high) with Stable trends. The rating reflects Vancity’s position as Canada’s largest provincially regulated credit union, a solid franchise in Greater Vancouver, and a recent...
Morningstar DBRS Finalizes Provisional Credit Ratings on FIGRE Trust 2026-FL2
Morningstar DBRS has issued provisional ratings for the FIGRE Trust 2026‑FL2 mortgage‑backed notes, assigning AAA to three senior tranches totaling $557.2 million and lower ratings to subordinate classes. The securitization backs $346.1 million of first‑lien HELOCs across 2,660 loans, with an average...
Morningstar DBRS Hosts Webinar on Canadian Banks' Earnings and Capital Markets Round-Up
Morningstar DBRS will host a Frontline Perspectives webinar on June 25 to dissect the Q2 2026 earnings and H1 2026 capital‑markets performance of Canada’s Big Six banks. Adjusted earnings slipped 2.2% quarter‑over‑quarter, while impaired credit‑loss provisions fell but provisions on performing loans rose...
NewDay Funding Master Issuer Plc, Series 2026-1: Presale Report
Morningstar DBRS issued provisional credit ratings for the NewDay Funding Master Issuer plc Series 2026‑1 notes, a securitisation of consumer loans and credit cards. The ratings were disclosed in a presale report released on June 18, 2026. This provisional assessment precedes the formal...
Morningstar DBRS Discontinues Credit Ratings on FT RMBS Prado VIII
Morningstar DBRS has discontinued its credit ratings for the Class A, Class Z and Class B notes of FT RMBS Prado VIII after the securities were fully repaid on June 15, 2026. The three tranches represented roughly €255.8 million (about $279 million), with Class A at €179.4 million (~$195.5 million) rated AAA, Class Z...