U.S. CMBS loans

Rating Agency Developments

On March 25, S&P released its updated criteria for rating government-related entities.   Report.

On March 25, Fitch released its updated criteria for rating commercial mortgage-backed securities (CMBS) in Asia-Pacific (APAC), including Japan, Australia and Singapore.  Report.

On March 25, DBRS released its criteria for rating Canadian federal, provincial and municipal government STRIPS (Separate Trading of Registered Interest and Principal Securities).  Report.

On March 23, S&P clarified its criteria as to what conditions must be met to raise an issue credit rating from ‘D’ (default), or an issuer credit rating from ‘D’ or ‘SD’ (selective default).  Report.

On March 23, DBRS released its criteria for evaluating and incorporating external and internal support into its ratings of banks and financial institutionsReport.

On March 20, Fitch released its updated criteria for analyzing large loans in U.S. CMBS transactionsReport.

Rating Agency Developments

On October 25, DBRS released its methodology for rating Canadian public-private partnerships. DBRS Release.

On October 29, Fitch published a newsletter describing reasons U.S. CMBS loans have transferred to special servicing, apart from imminent default. Fitch Release.

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