Enhanced Equipment Trust Certificates

Rating Agency Developments


On October 4, 2016, Moody’s published its approach to rating revenue bonds of U.S. municipal Joint Action Agencies (JAA). Report.

On October 3, 2016, DBRS published derivative criteria for European structured finance transactions. Report.

On October 3, 2016, Moody’s published its approach to assessing credit risk for rated issuers in the business and consumer service industry. Report.

On October 3, 2016, Moody’s published its approach to rating credit tenant lease and comparable lease financings. Report.

On October 3, 2016, Moody’s published its rating methodology for companies in the global integrated oil and gas industry. Report.

On September 30, 2016, Moody’s published methodology for rating debt issuance under certified capital company, new markets tax credit and similar programs. Report.

On September 29, 2016, Fitch published its methodology for assigning new and monitoring existing international ratings to aircraft enhanced equipment trust certificates (EETCs). Report.

Rating Agency Developments

On January 7, S&P announced that it will no longer rate notes issued by state certified capital companies through state-sponsored tax credit programs where a portion of the principal or a substantial portion of the interest due can be satisfied by state government-issued tax credits. S&P Release.

On January 6, S&P requested comments on its proposal to revise its criteria for rating banks. Comments must be received by March 7. S&P Release.

On January 5, Fitch revised its corporate finance criteria on rating entities above the country ceiling. Fitch Release.

On January 5, Moody’s revised its rating methodology for nearly 2000 outstanding U.S. RMBS deals issued prior to 2005. Moody’s Release.

On January 3, S&P updated its methodology for rating U.S. state governments. S&P Release.

On December 28, Moody’s published its rating methodology for Enhanced Equipment Trust Certificates (EETCs) and Equipment Trust Certificates (ETCs) issued by airline or railroad companies. Moody’s Methodology.

On December 21, Moody’s published a methodology for rating project finance issuers not covered by other relevant methodologies. Moody’s Release.

On December 20, S&P proposed revising its methodology for rating bond anticipation notes, a type of debt structured to rely on the proceeds of future bond sales for repayment at maturity. S&P Release.

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