Madrid Opening Marks DBRS's Third Office in Europe

- The creation of an office in Madrid, named DBRS Ratings GmbH, Sucursal en España, is a further decisive investment by DBRS, the globally accepted alternative to the established credit ratings agencies. Closely following the formal registration of DBRS's continental European operations as an authorised credit rating agency by the European Securities and Markets Authority (ESMA), the Spanish office is already operational with experienced analysts relocated to Madrid from the London office. "In Madrid, DBRS will assign ratings to serve market participants looking for expertise in the analysis of sovereigns, banks, covered bonds, securitisations and ultimately corporate risk. Our services will include ratings, research commentaries, and data insights known for the analytical rigour our key stakeholders expect from DBRS," said Zulema Aragonés Monjas, legal representative and office head of the Madrid Branch. In March 2018, DBRS opened an office in Germany as a further step to strengthen its presence in Europe. DBRS's key business motivation is to serve its growing customer base and to respond to investors' needs in continental Europe. DBRS chose Madrid to add further analytical capacity and be even closer to some of its Southern European customers. "The opening of our Madrid office will further help us to serve our customers in Spain, Italy, and Portugal in the best possible way," said Marta Zurita Bermejo, Managing Director and Head of European Business Development. "Our decision to expand in Europe, first in Frankfurt and now in Madrid, is fully supported by our successful European business strategy. We have gained significant momentum in some of the core European markets in recent years," Ms. Zurita added. The office, which is located at Calle del Pinar in Barrio de Salamanca, is DBRS's third location in Europe and one of six locations globally. Worldwide, DBRS employs approximately 500 people, of which more than 100 are located in Europe. For more information on DBRS's ESMA registration, please follow this link: https://www.dbrs.com/research/337370/dbrs-welcomes-esmas-decision-to-register-its-additional-european-credit-ratings-agency. For further information on DBRS's expansion in Europe visit the dbrs.com website or follow this link: https://www.dbrs.com/research/324581/dbrs-expands-in-europe-with-new-office-in-germany.    A Spanish version of this press release is available at www.dbrs.com.   DBRS Communications:Dennis Ferreira, +44 20 3356 1555, European.Communications@dbrs.com. About DBRSDBRS is an independent, privately held, globally recognized credit ratings agency with offices in Toronto, New York, Chicago, London, Frankfurt and Madrid. Founded in 1976 in Canada, DBRS is growing rapidly internationally. DBRS's four decades of experience and strong track record are the foundation to seek out new opportunities and to make targeted investments aligned with its core ratings operations. As the world's fourth-largest ratings agency, DBRS's approach and size provide the agility to respond to customers' needs in their local markets, while being large enough to provide the necessary expertise and resources. DBRS Ratings GmbHNeue Mainzer Straße 7560311 Frankfurt am MainGermany Geschäftsführer: Detlef ScholzAmtsgericht Frankfurt am Main, HRB 110259 DBRS Ratings GmbH, Sucursal en EspañaCalle del Pinar, 5