global structured finance

Rating Agency Developments

Posted on

On November 6, Fitch released its updated criteria for rating securitizations in emerging markets.  Report.

On November 5, DBRS released its methodology for rating companies in the automotive manufacturing industry.  Report.

On November 5, DBRS released its methodology for rating companies in the automotive supplier industry.  Report.

On November 5, S&P published an advance notice of proposed change to its bank rating methodology to potentially expand recognition of a bank’s “additional loss-absorbing capacity” in certain situations.  Article.

On November 3, Fitch released an updated version of its global structured finance and covered bonds rating criteria hierarchy.  Report.

On November 3, Moody’s released its methodology for rating unregulated utilities and unregulated power companies.  Report.

Note: Free registration is required for rating agency releases and reports.

Rating Agency Developments

Posted on

On October 9, S&P released its updated global methodology and assumptions for assessing the credit quality of securitized non-real estate related consumer receivables, including, but not limited to, auto, credit card, student, and unsecured personal loan asset-backed securities. Report.

On October 9, S&P released its updated criteria for analyzing cash flows of structured finance securities. Report.

On October 9, S&P released its updated methodology and assumptions for assessing operational risk associated with transaction parties in structured finance transactions. Report.

On October 7, Moody’s released its bankruptcy remoteness criteria for special purpose entities in global structured finance transactions. Report.

On October 7, Fitch released its updated Global Structured Finance and Covered Bonds Rating Criteria Hierarchy. Report.

On October 3, Fitch released its criteria for rating nonprofit nursing homes. Report.

Note: Free registration is required for rating agency releases and reports.

Rating Agency Developments

Posted on

On August 4, Fitch updated its global structured finance rating criteria. Fitch Release.

On August 3, Moody’s detailed its approach to Investment Manager Quality assessments. Moody’s Report.

On August 2, Fitch withdrew its criteria for rating: (i) debtor-in-possession loan facilities and (ii) covenant-light loans and CLOs. Fitch Release (DIP). Fitch Release (CLO).

On August 1, Fitch replaced investment provider guidelines with structured finance counterparty criteria. Fitch Release.

On August 1, S&P updated its methodology for rating U.S. rental fleet securitizations. S&P Criteria.

On July 29, Fitch removed Loss Severity Ratings from its Ratings Definitions. Fitch Release.

On July 29, Moody’s released its methodology for rating rental car ABS and rental truck ABS. Moody’s Methodology.

On July 27, DBRS released its third-party due diligence criteria for U.S. RMBS transactions. DBRS Methodology.

Note: Free registration is required for Fitch, Moody’s and S&P releases and reports