DBRS Says Daniel Curry to Become Leader of Rating Company

DBRS Ltd., the Canadian debt rating company, said Daniel Curry will lead the firm and that former President Huston Loke has left.

Under the reorganization, DBRS said Curry will have a “global focus,” expanding its operations outside of Canada. It won’t change the legal structure of DBRS units in Canada, the U.S. or Europe, DBRS said in a statement.

The ratings company is also forming a Canadian board of directors after being recognized as a designated rating organization on April 30. The board will include DBRS’s Walter Schroeder and David Schroeder and independent directors Sir George Mathewson and Juan Carlos Garcia Centeno, the firm said.

DBRS was the main rating company for asset-backed commercial paper in Canada when the market for it froze in 2007. Companies such as Coventree Inc. were unable to renew most of their paper as investors shunned the debt. The Toronto-based rating company was founded in 1976.

To contact the reporter on this story: Cecile Gutscher in Toronto at cgutscher@bloomberg.net

To contact the editor responsible for this story: David Scanlan at dscanlan@bloomberg.net