On February 12, S&P issued a report entitled ABS: European Corporate Securitizations. Report.
On February 11, Fitch released Updated Criteria for Asset-Backed Commercial Paper. Report.
ABCP
Rating Agency Developments
On September 13, Fitch updated its global rental fleet ABS criteria. Fitch Report.
On September 13, Fitch updated its global criteria for cash flow analysis in CDOs. Fitch Report.
On September 11, DBRS released its criteria for Canadian structured finance transactions, ABCP, and structured finance hedge counterparties. DBRS Structured Finance Report. DBRS ABCP Report. DBRS Hedge Counterparty Report.
On September 11, Fitch updated its sovereign rating model. Fitch Release. Fitch Report.
On September 10, Fitch updated its covered bond criteria. Fitch Report.
Rating Agency Developments
On May 24, S&P updated its methodology for applying its RMBS small pool adjustment factor. S&P Report.
On May 23, Moody’s updated its methodology for ABCP. Moody’s Report.
On May 23, Fitch updated its criteria for multilateral development banks. Fitch Report.
On May 22, Fitch detailed its rating considerations for passive funds. Fitch Report.
On May 22, DBRS released its master U.S. ABS surveillance methodology. DBRS Report .
On May 22, DBRS released its unified interest rate model for U.S. timeshare loan ABS transactions. DBRS Report.
On May 22, DBRS released its operational risk assessment for U.S. ABS servicers. DBRS Report.
On May 22, DBRS released its methodology for U.S. timeshare loan securitizations. DBRS Report.
On May 21, Fitch published criteria for state revolving funds (SRFs) and leveraged municipal loan pools (MLPs). Fitch Report.
On May 18, S&P updated its base-case default rate assumptions and benchmark pool for Japanese credit card and consumer loan securitizations. S&P Report.
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Rating Agency Developments – Week of January 23, 2012
On January 18, Fitch updated its short-term rating criteria for non-financial corporates. Fitch Release. Fitch Report.
On January 17, S&P requested comment on proposed changes to methodologies and assumptions used to rate fully and partially credit-enhanced multiseller ABCP conduits. Comments must be submitted by March 31. S&P Release.
On January 17, S&P requested comment on its European SME CLO methodology and assumptions. Comments are due by February 24. S&P Release.
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Rating Agency Developments
On November 10, Fitch updated its criteria for ABCP. Fitch Release.
On November 9, Moody’s released its methodology on rating U.S. public power electric utilities with generation ownership exposure. Moody’s Methodology.
On November 9, S&P released its group rating methodologies and assumptions. S&P Release.
On November 9, S&P updated its methodologies and assumptions for rating banks. S&P Release.
On November 9, S&P updated its methodology for determining a Banking Industry Country Risk Assessment (BICRA). S&P Release.
On November 8, S&P issued advance notice of proposed criteria changes for European CMBS. S&P Release.
On November 7, S&P released its ratings methodology addendum for sovereigns with limited external data. S&P Release.
On November 7, DBRS released its methodology on rating Canadian RMBS and European Master RMBS. Canadian RMBS. European RMBS.
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Rating Agency Developments
On June 30, Fitch updated its U.S. RMBS criteria for originator reviews, due diligence, and representations and warranties. Fitch Release.
On June 30, Fitch updated its criteria for rating U.S. timeshare loan ABS. Fitch Release.
On June 28, Fitch updated its criteria for global credit card ABS. Fitch Release.
On June 28, Moody’s published methodology for rating ABS backed by utility cost recovery charges. Moody’s Release.
On June 28, Moody’s released a report on its approach to analyzing performance disruption risk in securitizations. Moody’s Report.
On June 27, Moody’s issued a request for comment on changes to its ABCP operational risk guidelines. Comments are due by July 15. Moody’s Release.
On June 24, Fitch updated its future flow securitization rating criteria. Fitch Release.
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Rating Agency Developments
On April 20, Fitch published its updated criteria for rating U.S. auto loan ABS transactions. Fitch Release.
On April 20, DBRS released methodologies for a number of types of Canadian structured finance transactions. DBRS Methodologies.
On April 19, Fitch published its criteria for partial credit guarantees in emerging market transactions. Fitch Release.
On April 18, S&P updated its global methodologies for rating ABCP issued by multi-seller conduits by introducing new criteria for classification and timing of new-seller transaction reviews. S&P Release.
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Rating Agency Developments
On March 2, Moody’s released its global structured finance operational risk guidelines. Moody’s Methodology.
On March 2, Moody’s released its methodology for rating securities backed by utility cost recovery charges, which are established by special legislation and financing orders issued by utility regulatory bodies. Moody’s Methodology.
On March 1, Fitch updated its criteria report outlining its methodology for analyzing ratings for transaction-specific support facilities provided to ABCP conduits. Fitch Release.
On February 28, Fitch released updated criteria report for analyzing U.S. Public Finance variable-rate demand obligations issued with external liquidity support. Fitch Release.
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Rating Agency Developments
On November 30, Fitch updated its methodology for ABCP. Fitch Release.
On November 23, Moody’s updated its shipping loan ABS methodology. Moody’s Methodology.
On November 22, DBRS released its swap and legal criteria for Canadian structured finance transactions. DBRS Swap Criteria. DBRS Legal Criteria.
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Canadian Government Support for ABCP Restructuring
On December 19, the Government of Canada announced that it has agreed to partner with the provincial governments of Quebec and Ontario, and is in discussions with the provincial government of Alberta, to provide a senior funding facility to support a restructuring of frozen non-bank sponsored ABCP. Department of Finance Press Release.
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