letters of credit

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 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.