Frontline Perspectives: Credit Estimate Quarterly Snapshot - April 2024

During the first quarter of 2024, Morningstar DBRS issued and refreshed a total of 316 credit estimates (CEs) across 310 borrowers for 31 lenders including collateralized loan obligations (CLO) and fund managers. Total volumes include new CEs assigned for new and existing borrowers and existing CEs refreshed for periodic review and amendments. Currently, we assign CEs to about 1,400 leveraged corporate borrowers. CEs are not credit ratings, but rather point-in-time assessments of credit quality, which are used to estimate borrower default likelihood in CLOs, rated feeder funds, investment fund debt, equipment leases, and other structured finance transactions Join DBRS Morningstar on June 27 for a Frontline Perspectives webinar detailing the first quarter CE activity and performance, presented by Jerry van Koolbergen and Orest Gavrylak. The discussion will highlight overall credit quality, financial metrics year-to-date, revenue growth, and anticipated CE volume in the second half of 2024. A Q&A session will follow the presentation for the audience to participate in the conversation.