Rating Agency

Rating Agency Developments (July 30 – August 19)

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On August 19, Moody’s published its research report titled Housing – US: Urban Markets Will Recover After Pandemic as Americans’ Housing Decisions Evolve. Report.

On August 14, Fitch published its updated criteria for rating Trade Receivables Securitizations. Criteria.

On August 14, Moody’s published its updated methodology for rating Collateralized Loan Obligations. Methodology.

On August 7, KBRA published its Structured Finance surveillance report titled CMBS: Bank 2019-BNK19. Report.

On August 7, KBRA published its research report titled RMBS Credit Indices: July 2020. Report.

On August 4, KBRA published its Public Finance research report titled Coronavirus (COVID-19): New Jersey and Other States Consider Deficit Borrowing. Report.

On August 4, Moody’s published its methodology for rating Market Value Collateralized Loan Obligations. Methodology.

Rating Agency Developments

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On December 14, 2016, Fitch published its rating criteria for debt issued by airports. Report.

On December 12, 2016, DBRS released its methodology for rating project finance. Report.

On December 12, 2016, DBRS released its methodology for rating solar power projects. Report.

On December 12, 2016, DBRS released its methodology for rating wind power projects. Report.

On December 12, 2016, DBRS released its methodology for rating companies in the pipeline and the diversified energy industry. Report.

On December 12, 2016, DBRS released its preferred share and hybrid security criteria for corporate issuers. Report.

On December 8, 2016, Fitch updated its EMEA RMBS rating criteria with an addendum for analyzing securities backed by Belgian residential mortgage loans. Report.

On December 8, 2016, Fitch updated its EMEA RMBS rating criteria with an addendum for analyzing securities backed by French residential mortgage loans. Report.

On December 8, 2016, DBRS released its surveillance methodology for CMBS transactions. Report.

Rating Agency Developments

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On July 6, 2016, Moody’s published its rating methodology for European Social Housing Providers. Report.

On July 5, 2016, Fitch updated its global surveillance criteria for structured finance CDOs. Report.

On July 1, 2016, Fitch updated its criteria for rating structured finance servicers. Report.

On July 1, 2016, Fitch released updated criteria for new-issue U.S. and Canadian multiborrower CMBS. Report.

Rating Agency Developments

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On May 27, 2016, S&P published its revised rating criteria for hedge fund securitizations.  Report.

On May 26, 2016, Fitch published its revised sovereign rating criteria.  Report.

On May 26, 2016, DBRS published its methodology for rating credit funds.  Report.

 

Rating Agency Developments

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On May 25, 2016, DBRS published an updated report on rating Public Pension Funds & Related Exclusive Asset Managers. Report.

On May 25, 2016, DBRS published an updated report on rating Canadian Municipal Governments. Report.

On May 25, 2016, DBRS published an updated report on rating Canadian Public Hospitals. Report.

On May 25, 2016, DBRS published an updated report on rating Canadian Provincial Agents of the Crown. Report.

On May 25, 2016, DBRS published an updated report on rating Canadian Provincial Governments. Report.

Department of Labor Proposed Amendment to Underwriter Exemption

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On December 28, 2012, the Department of Labor published a proposed amendment to the definition of the term “Rating Agency” under Section III.X of the individual Prohibited Transaction Exemptions (otherwise known as the Underwriter Exemptions).  The proposed amendment would eliminate any specific reference to a particular credit rating agency, and substitute a requirement that a credit rating agency: (i) be currently recognized by the SEC as an NRSRO; (ii) have indicated on its most recently filed SEC Form NRSRO that it rates ‘‘issuers of asset-backed securities’’; and (iii) have had at least 3 ‘‘qualified ratings engagements’’ within a period not exceeding 12 months prior to the closing of the current transaction.  Comments on the proposed amendment must be submitted by February 11.  DOL Notice of Proposed Amendment.