Letter of Credit-Supported Bonds

Rating Agency Developments

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On April 6, 2016, DBRS published its methodology for rating European structured finance transactions.

On April 6, 2016, DBRS published its methodology for ratings in the forest products industry. Report.

On April 6, 2016, DBRS published its methodology for ratings in the engineering and construction industry. Report.

On April 6, 2016, DBRS published its methodology for ratings in the industrial products industry. Report.

On April 5, 2016, Fitch updated its recovery ratings and notching criteria for non-financial corporate issuers. Release.

On April 5, 2016, Fitch published an updated report on rating criteria for letter of credit supported bonds and commercial paper. Report.

On April 5, 2016, Fitch published surveillance criteria for trust preferred CDOs. Report.

On April 1, 2016, Fitch updated its EMEA RMBS rating criteria. Release.

On March 31, 2016, S&P published its methodology and assumptions for rating North American single-tenant real estate triple-net lease-backed securitizations.  Report.

On March 31, 2016, Fitch updated its global criteria for rating wind power projects. Release.

Rating Agency Developments

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On June 20, Moody’s released its methodology for assessing tail risk in Australian RMBS transactions.  Moody’s Report.   

On June 19, Moody’s released its U.S. RMBS surveillance methodology.  Moody’s Report. 

On June 19, KBRA released its financial guaranty rating methodology.  KBRA Report. 

On June 18, Fitch released its criteria for rating future flow securitizations.  Fitch Report. 

On June 18, S&P released an advance notice of proposed criteria change for non-financial corporate issuers.  S&P Release. 

On June 17, Fitch released its criteria for rating thermal power projects.  Fitch Report. 

On June 14, Fitch released its criteria for rating letter of credit-supported bonds.  Fitch Report. 

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Rating Agency Developments

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On June 29, Fitch updated its U.S. RMBS representations and warranties criteria. Fitch Report.

On June 28, Fitch updated its criteria for existing asset securitization in emerging markets. Fitch Report.

On June 26, S&P released its methodology for covered bonds. S&P Report.

On June 26, Fitch released an updated report on rating guidelines for confirming letter of credit-supported bonds. Fitch Report.

On June 22, Fitch updated its criteria for solid waste revenue bonds. Fitch Report.

On June 22, Fitch updated its criteria for credit card ABS. Fitch Report.

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Rating Agency Developments

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On June 20, Fitch updated its criteria for letter of credit-supported bonds. Fitch Report.

On June 20, DBRS released its criteria for market-linked securities. DBRS Report.

On June 20, DBRS released its criteria for representations, warranties, covenants, and events of default in trust indentures. DBRS Report.

On June 20, DBRS released its criteria for guarantees and other forms of explicit support. DBRS Report.

On June 20, DBRS released its criteria for Canadian bankruptcy and restructuring legal considerations. DBRS Report.

On June 20, Fitch updated its availability-based infrastructure project rating criteria. Fitch Report.

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Rating Agency Developments

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On July 28, Fitch updated its criteria for rating hybrid securities issued by banks, insurance companies, and non-financial corporate issuers. Fitch Release. Fitch Criteria.

On July 28, Fitch published an exposure draft entitled “Rating Bank Regulatory Capital Securities”, detailing proposed adjustments to its rating criteria for bank-issued hybrid securities and subordinated debt. Fitch Release. Fitch Exposure Draft.

On July 28, Fitch updated its criteria report for Rating Guidelines for Confirming Letter of Credit-Supported Bonds, which replaces the criteria report issued on July 13, 2010. Fitch Release. Fitch Report.

On July 26, Fitch updated its Rating Guidelines for Letter of Credit-Supported Bonds. Fitch Release. Fitch Criteria.

On July 26, Fitch published updated criteria for rating transactions with political risk insurance and letters of credit. Fitch Release.  Fitch Criteria.

On July 26, Moody’s revised its rating methodology for FHA-VA U.S. RMBS transactions. Moody’s Release.

On July 22, S&P revised its rating criteria for all U.S. RMBS transactions that were analyzed using LEVELS. S&P Release.

On July 22, S&P revised its rating criteria for analyzing loans governed by anti-predatory lending laws. S&P Release.