covered bond programs

Rating Agency Developments

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On June 1, Fitch published its updated global rating criteria for CLOs backed by loans to medium-sized enterprises. Fitch Report.

On May 31, S&P updated its methodology and assumptions for assessing counterparty risk in covered bond programs. S&P Report.

On May 30, Moody’s released its approach to rating Australian RMBS. Moody’s Report.

On May 30, Fitch updated its structured finance counterparty criteria. Fitch Release.

On May 30, Fitch updated is structured finance SPV criteria. Fitch Report.

On May 29, DBRS released its methodology for U.S. structured finance transactions backed by direct pay letters of credit. DBRS Report.

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Rating Agency Criteria and Methodology Updates

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On March 1, S&P published its methodology and assumptions relating to the surveillance of U.S. RMBS transactions backed by small-balance commercial loans. S&P Release.

On March 4, S&P revised its assumptions for assessing European insurance hybrid capital instruments subject to the EU’s “Directive On The Taking-Up And Pursuit Of The Business Of Insurance And Reinsurance” (Solvency II). S&P Release.

On March 2, S&P released updated assumptions for the interest rate scenarios for its U.S. insurance risk-based capital model. S&P Release.

On March 3, Fitch released updated criteria related to the rating of future flow securitizations in emerging markets. Fitch Release.

On March 2, Fitch released updated criteria with respect to the liquidity risks of covered bond programs. Fitch Release. 

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Rating Agency Developments

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On December 16, S&P published its revised methodology for rating U.S. tax lien securitizations. S&P Release.

On December 16, S&P published its revised methodology and assumptions for assessing asset-liability mismatch risk in covered bond programs. S&P Release.

On December 14, DBRS published its proposed rating methodology for U.S. auto lease ABS transactions. Comments to the proposed methodology are requested by January 14, 2010. DBRS Release.

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