public finance

Rating Agency Developments

On June 15, Fitch revised its country-specific treatment of recovery ratings. Fitch Report.

On June 13, Fitch updated its criteria for U.S. timeshare loan ABS. Fitch Report.

On June 12, Fitch updated its criteria for revenue-supported obligations in the public finance sector. Fitch Report.

On June 12, Fitch updated its criteria for rating foreign banking subsidiaries higher than the parent bank. Fitch Report.

On June 12, DBRS released its criteria for Canadian ABCP supported by full wrap liquidity. DBRS Report.

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Rating Agency Developments

On December 2, Moody’s updated its approach to rating fleet lease-backed ABS. Moody’s Report.

On December 1, Fitch released its surveillance criteria for U.S. CRE CDOs and CMBS large loan floating-rate transactions (floating-rate CMBS pools which have up to 50 loans remaining). Fitch Release.

On December 1, S&P requested comments on its methodology for rating U.S. public finance long-term municipal pools. S&P Release.

On November 29, S&P released definitions and related analytic practices for covenant and payment provisions in U.S. public finance revenue obligations. S&P Release.

On November 29, S&P released its rating approach for U.S. public finance obligations with multiple revenue streams. S&P Release.

On November 29, S&P revised its methodology for rating U.S. ABS auto lease securitizations. S&P Release.

On November 29, Fitch published updated criteria for rating linkages in nonbank financial subsidiary relationships. Fitch Release.

On November 21, S&P released a request for comments on a proposed expansion to its methodology and assumptions for assessing derivative obligations and certain amendments to other aspects of counterparty and supporting party risk criteria. S&P Release.

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