DBRS.com: Credit Research and Ratings: Insight beyond the rating

DBRS Discontinues Rating of USB Capital XI/XII Trust Preferred Securities	May 21, 2012
DBRS Releases Report on the Republic of Austria	May 21, 2012
DBRS Confirms City of Calgary at AA (high) and R-1 (high)	May 18, 2012
DBRS: BES’s Ratings Unchanged Following 1Q12 Results; Senior at BBBL, Trend Negative	May 18, 2012
DBRS Releases Report on Manulife Bank of Canada	May 18, 2012
DBRS Updates Report on Vermilion Energy Inc.	May 18, 2012
DBRS Confirms Credit Union Central Alberta at R-1 (low) and “A” with Stable Trend	May 18, 2012
DBRS Comments on Canadian Western Bank Announcement	May 18, 2012
DBRS Releases Report on BHP Billiton	May 18, 2012
DBRS Releases April Monthly Canadian Covered Bond Report	May 18, 2012

Austria, Republic of	May 21, 2012
Manulife Bank of Canada	May 18, 2012
Vermilion Energy Inc.	May 18, 2012
BHP Billiton Ltd. & BHP Billiton plc	May 18, 2012
407 East Development Group	May 18, 2012
Nexen Inc.	May 17, 2012
Superior Trust	May 17, 2012
Windermere XII FCT: Annual Surveillance Report	May 17, 2012
Windsor, University of	May 16, 2012
Asti Finance PMI S.r.l.	May 16, 2012

Issuer	Debt Rated	Action	Rating	Trend	Date
USB Capital XI	Trust Preferred Securities	Discontinued - Repaid	Discontinued	--	May 21, 2012
USB Capital XII	Trust Preferred Securities	Discontinued - Repaid	Discontinued	--	May 21, 2012
Calgary, City of	Long-Term Debt	Confirmed	AA (high)	Stb	May 18, 2012
Calgary, City of	Commercial Paper	Confirmed	R-1 (high)	Stb	May 18, 2012
Credit Union Central Alberta Limited	Commercial Paper	Confirmed	R-1 (low)	Stb	May 18, 2012
Credit Union Central Alberta Limited	Senior Long-Term Debt	Confirmed	A	Stb	May 18, 2012
407 East Development Group	Short-Term Senior Bonds	Provisional Rating - Finalized	A (low)	Stb	May 18, 2012
407 East Development Group	Long-Term Senior Bonds	Provisional Rating - Finalized	A (low)	Stb	May 18, 2012
Austria, Republic of	Long-Term Local Currency – Issuer Rating	Confirmed	AAA	Stb	May 18, 2012
Austria, Republic of	Long-Term Foreign Currency – Issuer Rating	Confirmed	AAA	Stb	May 18, 2012

European Bank Tightening of Credit Standards Slows, Reversing Previous Trends; Demand Remains Weak	May 11, 2012
Australian Banking Study: Business as Usual Down Under	May 9, 2012
DBRS U.S. Banking Outlook: The Slow Growth Economic Environment Should Lead to Mostly Stable Ratings	May 8, 2012
Life in the Slow Lane: State of Canada’s Life Insurance Industry	May 7, 2012
DBRS: Debt Sustainability Key to Stabilising Ireland and Portugal Ratings	May 4, 2012
DBRS U.S. Banks 1Q12 Earnings Round-Up: Positive Operating Leverage, Loan Growth & Improving Asset Quality Lead to Better Results	May 3, 2012
U.S. Banking Peer Group Statistical Handbook, 2011	Apr 20, 2012
Canadian Pension Prognosis: Take Two Percent and Call Me in the Morning	Apr 18, 2012
The Canadian Short-Term Debt Market in 2011	Apr 17, 2012
Stricter Loan Standards, Higher Credit Cost & Reduced Credit Supply Dim UK Banks’ Earnings Prospects	Apr 16, 2012