On January 6, Fitch released its methodology for rating derivative product companies. Fitch Report.
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derivative product companies
Rating Agency Developments
On January 10, DBRS released the following rating methodologies:
- European covered bonds.
- Unified interest rate model for European securitizations.
- Unified interest rate model for global structured finance CDO restructurings.
- Unified interest rate model for U.S. and European structured credit.
- Unified interest rate model for U.S. RMBS transactions.
- Unified interest rate model for U.S. timeshare loan ABS transactions.
On January 10, S&P updated its methodology and assumptions for CLOs backed by European small and midsize enterprises (SMEs). S&P Release.
On January 8, Moody’s released its methodology for assessing RMBS servicing quality. Moody’s Release.
On January 7, Fitch updated its criteria for rating derivative product companies. Fitch Release. Fitch Report.
Rating Agency Developments
On October 10, DBRS released methodology for structured finance CDO restructurings. DBRS Report.
On October 5, Moody’s released its approach to rating derivative product companies. Moody’s Report.
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Rating Agency Updates
On November 18, Fitch noted that restrictions in dialogue between U.S. CMBS special servicers and rating agencies caused by SEC Rule 17g-5 may have the unintended consequence of producing unnecessary rating volatility. Fitch Release.
On November 16, S&P clarified its methodology and assumptions for assessing borrower-level SPEs in U.S. CMBS pools. S&P Release.
On November 17, Fitch updated its criteria for surveillance of U.S. fixed-rate CMBS transactions. Fitch Release.
On November 15, Fitch updated its criteria report outlining its methodology to analyze the credit quality of derivative product companies. Fitch Release. Fitch Report.
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