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DBRS Expands in Europe With New Office in Germany

Press Release:  DBRS Expands in Europe With New Office in Germany

March 20, 2018

DBRS, the fourth-largest global rating agency, announced the opening of an office in Frankfurt as a further step to strengthen its presence in Europe.

The establishment of an additional legal entity named DBRS Ratings GmbH marks the expansion of the global ratings provider and, upon registration with the European Securities and Markets Authority, will also ensure ongoing compliance with applicable regulation in the European Union and the United Kingdom post-Brexit.

“In recent years, DBRS gained significant momentum with both investors and issuers in some of the core European markets. The decision to further expand in Europe is simply a function of our successful European business strategy,” said Stephen W. Joynt, DBRS Chief Executive Officer.

Prior to the United Kingdom’s Brexit decision, DBRS already envisioned the opening of additional office locations in continental Europe. While the timing reflects the current Brexit timetable, DBRS’s key business motivation is to serve its growing issuer base and to respond to the investors’ needs in continental Europe.

DBRS chose Frankfurt in large part due to the city’s impressive talent pool and proximity to current and prospective customers.

“The fact that Frankfurt is located in the heart of Europe, offers good infrastructure and has great communication links to other locations in the continent helped our decision on DBRS’s second location in Europe,” said Detlef Scholz, Head of Europe at DBRS and managing director of DBRS Ratings GmbH.

DBRS Ratings GmbH, located at Neue Mainzer Strasse in Frankfurt’s banking district, already hired its first non- executive employee and is currently reviewing job applications for a full range of open positions in analytical areas, as well as compliance and support functions. Like London, DBRS rating coverage out of Frankfurt will ultimately include the analysis of banks, covered bonds, securitizations and corporate funding structures.

Frankfurt becomes DBRS’s second office location in Europe and the sixth globally. Across all these locations DBRS employs nearly 500 people.

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