Prerefunded Municipal Bonds

Rating Agency Developments

On December 10, Moody’s released its approach to rating sustainable net cash flow for CMBS and CRE CDO CLO Real Estate collateral in the Americas and ex-Japan Asia Pacific.  Approach

On December 10, Moody’s released its approach to rating US and Canadian Conduit/ Fusion CMBS.  Approach

On December 10, Fitch released its criteria to rating U.S. fixed-rate multiborrower CMBS surveillance and re-REMIC criteria.  Criteria

On December 9, Fitch released its guidelines for rating prefunded U.S. municipal bonds.  Guidelines

On December 9, Fitch released a table of covered bonds spread levels.  Table

On December 8, Moody’s released its methodology for rating business and consumer service industry.  Methodology

On December 8, Moody’s released its methodology for rating global oilfield services industry.  Methodology.

Rating Agency Developments

On January 11, S&P updated its methodology and assumptions for rating and monitoring U.S. auto loan ABS. S&P Release.

On January 11, Fitch published an updated report on ‘Guidelines for Rating Prerefunded Municipal Bonds‘. Fitch Release. Fitch Report.

On January 12, Fitch revised its Ratings Definitions to remove the term “Shadow Ratings” and to add an “RD”, Restricted Default, definition to National scale short- and long-term Issuer Default Ratings. Fitch Release.