DBRS is a credit rating agency (CRA) founded in 1976 (originally known as Dominion Bond Rating Service) in Toronto by Walter Schroeder, who sold the company to a consortium led by The Carlyle Group and Warburg Pincus in December 2014. DBRS is the largest rating agency in Canada with other offices in New York, Chicago, and London. DBRS comprises three affiliated operating companies – DBRS Limited; DBRS, Inc.; and DBRS Ratings Limited. Daniel Curry is the agency’s CEO. DBRS is the fourth largest ratings agency in the world, with about a 2.5% global market share.
DBRS is registered as a Nationally Recognized Statistical Rating Organization from the United States’ Securities and Exchange Commission (SEC), one of only 10 companies to hold the designation. DBRS is also registered with the European Securities and Markets Authority (ESMA) and with the Ontario Securities Commission (OSC) in Canada.
The company is one of only four CRAs, along with larger competitors Standard & Poor’s, Moody's Investors Service, and Fitch Ratings, to receive ECAI recognition from the European Central Bank (ECB). That designation indicates CRAs whose ratings can be used by the ECB to determine collateral requirements for borrowing from the ECB.