tender option bonds

Rating Agency Developments

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On April 13, Moody’s published its approach to rating obligations with variable promises, where the source of variation is related to non-standard or non-credit-related reference factors. Report.

On April 7, Fitch published its criteria for rating tender option bonds. Report.

On April 7, Fitch published its criteria for rating Mexican residential mortgage-backed securities (RMBS). Report.

On April 7, DBRS published its criteria for rating companies in the television broadcasting industry. Report.

On April 7, DBRS published its criteria for rating companies in the radio broadcasting industry. Report.

On April 7, DBRS published its criteria for rating companies in the printing industry. Report.

On April 7, DBRS published its criteria for rating companies in the publishing industry. Report.

Rating Agency Developments

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On September 23, DBRS published a request for comments for rating European Covered Bonds.  The report described the DBRS criteria for rating all types of European covered bonds, whether issued under country-specific covered bonds legislation or outside.  Report.

On September 22, Fitch took various ratings action on tender option bonds corresponding to actions taken on their associated enhancement providers or underlying bonds.  Release.

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Rating Agency Developments

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On May 9, Fitch released its guidelines for rating tender option bonds.  Fitch Report.   

On May 9, Moody’s released its methodology for rating CLOs.  Moody’s Report.

On May 8, Fitch released its surveillance criteria for franchise loan ABS.  Fitch Report. 

On May 7, S&P released its criteria for multiple-use special-purpose entities.  S&P Report. 

On May 7, S&P released its criteria for assessing guarantees in structured finance transactions.  S&P Report.   

On May 7, S&P released its criteria for asset isolation and special-purpose entities in structured finance transactions.  S&P Report. 

On May 7, Moody’s released its methodology for rating consumer loan ABS transactions.  Moody’s Report. 

On May 7, Moody’s released its guidelines for incorporating sovereign risk into (i) rating CDOs of SMEs in Europe; (ii) rating multi-pool financial lease-backed transactions in Italy; and (iii) rating EMEA auto loans.  Moody’s Report (SME CDO).  Moody’s Report (Italy).  Moody’s Report (EMEA Auto Loans). 

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Rating Agency Developments

Posted on

On May 10, Fitch updated its guidelines for rating tender option bonds.  Fitch Report.

On May 10, Fitch updated its surveillance criteria for franchise loan ABS.  Fitch Report.

On May 8, DBRS released its methodology for rating Canadian public pension funds and related exclusive asset managers. DBRS Report.

On May 7, DBRS released its methodology for the European Financial Stability Facility. DBRS Report.

On May 4, S&P published a report on structural and credit considerations for REO-to-rent securitizations.  S&P Report.

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