Rating Agencies

Rating Agency Developments

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On March 8, 2018, Fitch issued a report entitled: Fitch U.S. RMBS Loss Metrics. Release.

On March 8, 2018, Kroll issued a report entitled: Financial Institutions: Securities Firm Rating Methodology. Release.

On March 9, 2018, Fitch issued a report entitled: Fitch Updates U.S. Trust Preferred CDOs Surveillance Rating Criteria. Release.

On March 9, 2018, Moody’s issued a report entitled: Municipal Bonds and Commercial Paper Supported by a Borrower’s Self-Liquidity. Release.

On March 9, 2018, Kroll issued a report entitled: RMBS: Reverse Mortgage Securitization Global Rating Methodology. Release.

On March 13, 2018, Fitch issued a report entitled: Fitch Updates U.S. RMBS Cash Flow Analysis Criteria. Release.

On March 14, 2018, Fitch issued a report entitled: Fitch Updates Single- and Multi-Name Credit-Linked Notes Rating Criteria. Release.

Rating Agency Developments

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On March 1, 2018, Fitch issued a report entitled: U.S. Auto Loan ABS Rating Criteria. Release.

On March 2, 2018, Fitch issued a report entitled: Covered Bonds Rating Criteria. Release.

On March 2, 2018, Fitch issued a report entitled: U.S. Auto Lease ABS Rating Criteria. Release.

On March 7, 2018, Fitch issued a report entitled: Exposure Draft: U.S. RMBS Loan Loss Model Criteria. Release.

On March 7, 2018, Fitch issued a report entitled: Exposure Draft: U.S. RMBS Seasoned, Re-Performing and Non-Performing Loan Rating Criteria. Release.

Rating Agency Developments

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On February 28, 2018, Moody’s published a list of Outdated Credit Rating Methodologies. Release.

On February 28, 2018, DBRS published an updated analysis criteria for Commercial Real Estate Property. Release.

On February 28, 2018, Fitch published an addendum to its rating criteria for Norway Residential Mortgages. Release.

On February 28, 2018, Fitch published its rating criteria for Renewable Energy Projects. Release.

On February 27, 2018, Moody’s published a rating methodology for Tender Option Bonds and Related Instruments. Release.

On February 26, 2018, Fitch published its rating criteria for Public-Sector, Revenue-Supported Debt. Release.

On February 23, 2018, Fitch published its rating criteria for Airports. Release.

On February 23, 2018, Fitch published its rating criteria for Ports. Release.

On February 23, 2018, Fitch published its rating criteria for SME Balance Sheet Securitizations. Release.

On February 23, 2018, Fitch published its rating criteria for CLOs and Corporate CDOs. Release.

On February 22, 2018, Fitch published its rating criteria for U.S. Public Finance Structured Finance Transactions. Release.

On February 22, 2018, Fitch published its rating criteria for U.S. Public Finance Letter of Credit-Supported Bonds and Commercial Paper. Release.

On February 22, 2018, Fitch published its rating criteria for Toll Roads, Bridges and Tunnels. Release.

On February 22, 2018, S&P published an updated rating criteria for RMBS: U.S. Residential Mortgage Operational Assessment Ranking Criteria. Release.

On February 22, 2018, S&P published an updated rating criteria for RMBS: Methodology and Assumptions for Rating U.S. RMBS Issues 2009 and Later. Release.

On February 22, 2018, S&P published an updated rating criteria for RMBS: Assumptions Supplement for Methodology and Assumptions for Rating U.S. RMBS Issues 2009 and Later. Release.

Rating Agency Developments

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On January 25, 2018, Moody’s Analytics Research reported that despite tax law changes, high-yield bond issuance is thriving. Release.

On January 27, 2018, Moody’s updated its homebuilding and property development industry rating methodology. Release.

On January 31, 2018, Fitch reported that loan growth for the full-year 2017 was well below historical average. Due to the Tax Cuts and Jobs Act, it is not clear if there will be an uptick in lending. Release.

On January 31, 2018, Fitch released a statement that the US Capital Markets Quarterly Report showed strong investment banking and weak trading results during the 2017 fourth quarter. Release.

On January 31, 2018, Moody’s issued an announcement proposing updates to its methodology for debtor-in-possession lending. Release.

On January 31, 2018, DBRS published updated methodologies for rating CLOs and CDOs of large corporate credit and cash flow assumptions for corporate credit securitizations. Release.

Rating Agency Developments

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On January 23, 2018, DRBS published an updated North American Single-Asset/Single-Borrower Methodology. The methodology does not consist of any material changes from the previously issued methodology. According to DBRS, it has not and will not take any rating actions on outstanding securities as a result of the update. Release.

On January 23, 2018, Fitch Ratings published new criteria addressing the ratings of debtor-in-possession (“DIP”) instruments. The new criteria describes Fitch’s approach for assigning new international credit ratings to U.S. DIP instruments. Release.

On January 22, 2018, DBRS published the methodology “Rating North American CMBS Interest-Only Certificates,” which explains its approach to rating interest-only certificates within both single-asset/single-borrower transactions and multi-borrower transactions. Release.

On January 18, 2018, S&P published guidance on how it applies ‘CCC’ criteria in its rating analysis. Release.