Trust Preferred CDOs

Rating Agency Developments

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On May 8, DBRS published its rating methodology for Public Universities. Methodology.

On May 7, Moody’s published its rating methodology for certain Nonprofit Organizations. Release.

On May 6, DBRS published its methodology for Master Canadian Structured Finance Surveillance. Release.

On May 6, Fitch published its rating criteria for Money Market Funds. Release.

On May 3, Moody’s published its rating methodology for Local Currency Country Risk Ceiling for Bonds and Other Local Currency Obligations. Release.

On May 2, Fitch published its Short-Term Ratings Criteria. Release.

On May 2, Fitch published its rating criteria for Global Structured Finance. Release.

 

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 April 23, Fitch released its updated criteria for rating operational risk of U.S. servicers of RMBS and small balance commercial securities.  Report.

On April 23, Fitch released its updated criteria for rating operational risk of servicers of various structured finance products, including RMBS, CMBS, and ABS.  Report.

On April 22, Moody’s released its rating methodology for monitoring scheduled amortization UK student loan-backed securities.   Report.

On April 21, Fitch released its updated criteria for analyzing trust-preferred CDOs.  Report.

On April 17, DBRS released its updated criteria for commercial paper liquidity support for non-bank issuers. Report.

On April 17, DBRS released its criteria for rating market-linked securities.  Report.

Rating Agency Developments

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On July 12, S&P released a request for comment on its methodology and assumptions for rating U.S. small business loan-backed securitizations.  Comments must be submitted by August 15.  S&P Report. 

On July 10, Fitch released its criteria for rating U.S. tobacco settlement ABS.  Fitch Report. 

On July 10, Fitch released its criteria for rating trust-preferred CDOs.  Fitch Report. 

On July 9, Fitch released its EMEA consumer ABS rating criteria, along with the related auto residual value addendum.  Fitch Report (Consumer ABS).  Fitch Report (Auto Residual Value Addendum). 

On July 3, Fitch released its distressed debt exchange criteria for structured finance.  Fitch Report. 

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Rating Agency Developments

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On July 12, S&P updated its methodology for fees, expenses, and indemnification. S&P Report.

On July 11, Fitch updated its global surveillance criteria for trust preferred CDOs. Fitch Report.

On July 11, S&P released its methodology for public and nonprofit social housing. S&P Release.

On July 10, DBRS released its capital call lending facility criteria. DBRS Report.

On July 9, S&P requested comments, due by September 9, on its insurer rating methodology. S&P Release.

On July 6, Fitch updated its U.S. RMBS surveillance criteria. Fitch Report.

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Rating Agency Developments

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On July 14, Fitch updated its EMEA Consumer ABS Rating Criteria and the Auto Residual Value Addendum, and published a report outlining the basic legal assumptions on which the EMEA ABS rating criteria are predicated. Fitch EMEA Consumer ABS Criteria. Fitch Auto Residual Value Addendum. Fitch EMEA ABS Legal Assumptions.

On July 12, Fitch updated its global surveillance criteria for Trust Preferred CDOs. Fitch Release. Fitch Report.

On July 11, Fitch updated its criteria for Recovery Ratings U.S. RMBS. Fitch Release. Fitch Report.

On July 11, Fitch published new criteria for the treatment of hybrid equity in the Corporate and REIT Sectors, and for Banks.  Fitch Corporate and REIT Sector Release. Fitch Corporate and REIT Report. Fitch Bank Release. Fitch Bank Report.

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Rating Agency Updates

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On August 24, Fitch released its revised criteria for rating Trust Preferred CDOs. Fitch Release.

On August 25, Moody’s released its methodology on evaluating the credit quality of U.S. municipal pool programs. Moody’s Methodology.

On August 24, DBRS released its methodology for Canadian structured finance flow-through ratings. DBRS Methodology.

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