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DLR is rated by S&P Global Ratings.

DLR was first rated by Standard & Poor’s Ratings Services (“S&P”) in May 2012.

In May 2017, S&P raised DLR’s Issuer Credit Rating (ICR) to ‘A-‘, as DLR was granted an ALAC-uplift of +1. On October 23, 2019, S&P changed the outlook for DLR’s ratings from positive to stable.

The change in outlook is due to S&P’s assessment of sector trends with increasing pressure on earnings. Thus, the change in outlook does not reflect DLR-specific conditions.

All DLR’s covered bonds (SDO and RO) have been rated ‘AAA’ since 2012.

Swipe to the side on the table for more information.
Resolution Counterparty Rating (RCR)A/stable outlook23/10/2019
Long-Term Credit Rating (ICR)A-/stable outlook23/10/2019
Short-Term Credit RatingA-2/stable outlook31/05/2012
Stand-Alone Credit Profile (SACP)BBB+/stable outlook23/10/2019
Capital Centre B (SDO)AAA24/10/2012
General Capital Centre (RO)AAA26/11/2012
General Capital Centre (SRN, SNP)BBB18/05/2017

In recent years, DLR has strengthened its capital base intending to enhance resilience to potential drops in property prices, ensure a high bond rating, and being prepared for future capital adequacy requirement under the CRD IV regulation.

Standard & Poor's reports on DLR

Rating history