project finance

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 18, Moody’s extended comment period on proposed clearing house global rating methodology to September 17, 2015.  Announcement.

On August 17, Fitch released its updated corporate rating methodology.  Methodology.

On August 13, DBRS published its updated methodology for rating project finance.  Methodology.

On August 13, DBRS published its updated methodology for rating companies in the independent power producer industry.  Methodology.

Rating Agency Developments

On February 1, Fitch updated its methodology for analyzing non-performing loan securitizations.  Fitch Report. 

On February 1, Fitch updated the public sector liquidity and spread assumption addendum for its covered bonds criteria.  Fitch Report. 

On January 30, Fitch published criteria for its asset analysis of European public entities’ covered bonds.  Fitch Report. 

On January 29, Fitch updated its private student loan ABS criteria.  Fitch Report. 

On January 28, S&P requested comments on its project finance methodology.  S&P Release.

Rating Agency Developments

On August 16, S&P requested comment on project finance construction and operations counterparty methodology. S&P Release.

On August 16, S&P updated its defeasance criteria for U.S. CMBS transactions. S&P Release.

On August 15 and 16, Fitch released reports on: (i) recovery ratings for financial institutions; (ii) securities firms; (iii) bank holding companies; (iv) financial institutions; (v) market value structures; (vi) U.S. closed-end funds; (vii) infrastructure and project finance; (viii) bond funds; (ix) APAC CMBS; (x) prepaid energy transactions; (xi) U.S. residential mortgage Re-REMICs; (xii) U.S. RMBS; (xiii) Prime RMBS loan loss models; (xiv) state housing finance agencies – single family mortgage program; (xv) state revolving fund and municipal loan pools; and (xvi) Japan CMBS surveillance.

On August 12, DBRS published a guide regarding its legal criteria for European structured finance transactions. DBRS Release.

Rating Agency Developments

On April 28, DRBS updated its methodologies for oil and gas companies and for project finance. DBRS Methodologies.

On April 27, Fitch released its updated criteria for rating general obligation transactions of state housing finance agencies. Fitch Release. Fitch Report.

On April 25, Fitch released is updated criteria for rating airport operating lease ABS. Fitch Release.

On April 25, Fitch released its updated report on U.S. municipal structured finance rating criteria. Fitch Release. Fitch Report.

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