For a rating agency whose analysts claim that a lack of market share is a competitive advantage, its growth would nearly prove counterintuitive. Dominion Bond Rating Service, the only private rating agency certified with NRSRO status in the U.S., is slowly brandishing its name on more and more deals within the asset-backed market, a development its top analysts say is due to quality service, relatively conservative ratings and transparency.

"DBRS does not have specific goals for market share - but we certainly don't aspire to rate 100% of the market," said DBRS Senior Vice President Quincy Tang. "But that is our competitive advantage," chimed in Vice President Bernard Maas.

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