Rating Agency Developments

On March 30, 2016, Moody’s published its rating methodology for assessing green bonds. Report.

On March 30, 2016, DBRS published its methodology for rating Canadian structured finance instruments. Report.

On March 30, 2016, DBRS updated and is requesting comment on its methodology for analyzing the credit risk of European RMBS. Report.

On March 30, 2016, DBRS published and is requesting comment on its methodology for analyzing Spanish mortgages. Report.

On March 29, 2016, DBRS published and is requesting comment on its methodology for conducting surveillance on U.S. ABS. Report.

On March 29, 2016, DBRS published and is requesting comment on its operational risk assessment methodology for U.S. ABS servicers. Report.

On March 29, 2016, DBRS published and is requesting comment on its operational risk assessment methodology for U.S. ABS originators. Report.

On March 29, 2016, DBRS published and is requesting comment on its methodology for rating pooled aircraft lease securitizations. Report.

On March 24, 2016, DBRS published its rating methodology for supranational institutions, or multilateral financial institutions (MFIs). Report.

On March 24, 2016, Fitch updated its rating criteria for U.S. auto lease ABS. Press Release.

On March 24, 2016, S&P published its methodology and assumptions for U.S. tobacco settlement securitizations. Report.

Rating Agency Developments

On January 6, DBRS published its methodology for rating European commercial mortgage loans and European CMBS transactions. Report.

On January 4, DBRS published its preferred share and hybrid security criteria for corporate issuers. Report.

On January 4, DBRS published its methodology for rating holding companies and their subsidiaries. Report.

On January 4, DBRS published its methodology for rating CLOs backed by loans to European Small and Medium-Sized Enterprises (SMEs). Report.

On January 4, DBRS published its methodology for rating European RMBS transactions. Report.

On December 31, DBRS published its methodology for rating European structured finance servicers. Report.

On December 31, Moody’s published its rating methodology for investment holding companies and conglomerates. Report.

Rating Agency Developments

On December 16, 2015, Fitch released updated Criteria Assumptions for UK Residential Mortgages. Press release.

On December 16, 2015, Fitch released updated EMEA RMBS Rating Criteria, which had no impact on existing ratings. Press release.

On December 15, 2015, S&P issued Structured Finance Temporary Interest Shortfall Methodology, effective immediately (except where notification or registration is required). Report.

On December 15, 2015, DBRS released a report entitled Global Methodology for Rating Banks and Banking Organisations. Report.

On December 15, 2015, DBRS released a report entitled DBRS Criteria: Support Assessments for Banks and Banking Organisations. Report.

On December 15, 2015, DBRS released a report entitled Master European Structured Finance Surveillance Methodology. Report.

On December 15, 2015, DBRS released a report entitled Operational Risk Assessment for European Structured Finance Originators. Report.

On December 14, 2015, Moody’s published its Global Approach to Rating Collateralized Loan Obligations. Report.

On December 10, 2015, Fitch released updated Criteria for Analysis of Commercial Real Estate Loans Securing Covered Bonds. Press release.

Rating Agency Developments

On December 9, 2015, Moody’s published its global methodology for rating securities backed by pools of auto loans and auto leases to individuals. Report.

On December 8, 2015, Moody’s published its methodology for rating the temporary investment of cash in structured finance transaction accounts. Report.

On December 7, 2015, Fitch updated its criteria for recovery estimates and recovery ratings and clarified the notching guidance for unsecured debt of issuers rated in the ‘BB’ category and above. Report.

On December 4, 2015, Fitch updated its criteria for not-for-profit hospitals and health systems outside the U.S. Report.

On December 4, 2015, Moody’s updated and replaced its existing methodology for how Moody’s Loss Given Default framework is used in making rating distinctions. Report.

On December 3, 2015, Fitch updated its criteria for rating U.S. equipment lease and loan ABS. Report.

On December 3, 2015, Fitch published its Global Consumer ABS Rating Criteria for analyzing credit risk in asset-backed securities backed by consumer receivables globally. Report.

On December 3, 2015, Fitch updated its recovery ratings and notching criteria for equity REITs. Report.

On December 3, 2015, Kroll published its methodology for rating the financial strength of private mortgage insurance companies. Report.

On December 3, 2015, Kroll published its methodology for rating U.S. CMBS single borrower and large loan transactions. Report.

On December 3, 2015, Kroll published its methodology for rating U.S. CMBS multi-borrower transactions. Report.

On December 3, 2015, Kroll published its methodology for rating U.S. distressed commercial real estate liquidating trust securitizations. Report.

On December 3, 2015, Kroll updated its CMBS property evaluation methodology. Report.

Rating Agency Developments

On November 17, 2015, Fitch published its updated Rating Criteria for U.S. Municipal Short-Term Debt.  Release.

On November 17, 2015, Fitch published its updated Surveillance Criteria for U.S. CREL CDOs.  Release.

On November 17, 2015, Moody’s published a rating methodology report entitled Publicly Managed Airports and Related Issuers.  Methodology.

On November 16, 2015, DBRS released a report entitled Rating U.S. Rental Car Securitizations.  Methodology.

On November 13, 2015, Fitch published its updated U.S. & Canadian Fixed-Rate Multiborrower CMBS Surveillance & U.S. Re-Remic Criteria.  Release.

Rating Agency Developments

On October 1, DBRS published its U.S. RMBS rating methodology.  Methodology.

On October 1, DBRS published its rating methodology for European consumer and commercial ABS transactionsMethodology.

On October 1, DBRS published its methodology for rating companies in the mining industryMethodology.

On October 1, DBRS published its methodology for rating operators in the container terminal industryMethodology.

On October 1, Fitch updated its criteria for rating U.S. RMBSCriteria.

On October 1, Moody’s published its methodology for rating public housing authority (PHA) capital fund bonds issued in the U.S. municipal market.  Methodology.

On October 2, Moody’s published its methodology describing its approach to monitoring existing securities backed by low-income residential construction loans to developers in MexicoMethodology.

On October 5, Fitch updated its methodology for analyzing U.S. Tobacco Settlement ABSCriteria.

On October 5, Fitch updated its global rating criteria for trade receivables securitizationsCriteria.

On October 5, KBRA released a proposed U.S. Equity REITs & REOC rating methodology.  Methodology.

On October 5, Moody’s published its approach in considering data quality in structured finance transactions.  Methodology.

On October 6, DBRS published its methodology for rating sovereign governmentsMethodology.

On October 7, DBRS published its global methodology for rating life and property/casualty insurance companies and insurance organizationsMethodology.

Rating Agency Developments

On September 24, DBRS published a report describing its approach for monitoring European CMBS ratingsMethodology.

On September 25, DBRS published its methodology for rating European RMBS transactions issued in Europe with residential loans originated in Europe.  Methodology.

On September 25, DBRS published its methodology for rating securitizations issued in Canada with collateral originated in Canada.  Methodology.

On September 28, Fitch updated its rating criteria for infrastructure and project financeCriteria.

On September 28, Moody’s published its rating methodology for corporate synthetic collateralized debt obligationsMethodology.

On September 28, Moody’s published its rating methodology for collateralized loan obligationsMethodology.

On September 28, Moody’s updated its methodology for rating securitization transactions backed predominately by loans granted to microenterprises, small- and medium-sized enterprises (SMEs) and self-employed individuals.  Methodology.

On September 29, Fitch updated its rating criteria for toll roads, bridges and tunnelsCriteria.

On September 29, DBRS published its methodology for rating Portuguese electricity tariff securitizationsMethodology.

On September 30, DBRS published a report describing the criteria applied in reviewing derivatives in the context of a European structured finance transactionMethodology.

On September 30, Moody’s published its methodology for assessing credit risk for companies in the restaurant industryMethodology.

Rating Agency Developments

On August 27, 2015, Fitch updated its criteria for analyzing large loans in U.S. CMBS transactionsPress Release.

On August 28, 2015, Fitch updated its UK Whole Business Securitization rating criteria.  Press Release.

On August 28, 2015, Fitch updated its EMEA RMBS rating criteria.  Press Release

On August 28, 2015, Moody’s published its methodology for assessing credit risk for companies in the independent refining and marketing industryReport.