Rating Agency Developments

On May 25, Moody’s updated its approach to rating tobacco settlement revenues securitizations. Moody’s Methodology.

On May 24, Fitch published updated criteria for rating U.S. auto lease ABS. Fitch Release.

On May 24, Fitch revised its criteria for moral obligation backed bonds, a non-legislatively binding mechanism provided by a governmental entity to support debt separately secured by a pledged revenue stream. Fitch Release. Fitch Report.

On May 23, Moody’s published updated criteria for rating U.S. auto-loan ABS. Moody’s Release.

On May 23, Moody’s announced that its revised methodology for money market fund ratings (published on March 10, 2011) is now effective. Moody’s Release. Moody’s Methodology.

On May 20, Fitch released its franchise loan ABS surveillance criteria. Fitch Release.

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