Fitch Ratings has updated its master rating criteria report titled 'Revenue-Supported Rating Criteria.' The report replaces Fitch's existing rating criteria published
Fitch has identified four key rating drivers that affect the credit quality of revenue-supported issuers:
--Effective Governance and Management: A governing body and senior administration's ability to establish and implement an organization's policies and principles;
--Operating Cash Flow Sufficiency: The ability to generate cash flow from operations sufficient to fund debt service obligations;
--Debt Management: The ability to service planned debt from existing operations, manage interest rate risk and comply with legal provisions;
--Financial Profile Evaluation: An analysis of a borrower's operational performance, liquidity and debt load, as well as a qualitative review of the factors that can modulate risk levels.
The updated criteria report is available at 'www.fitchratings.com'.
Additional information is available at 'www.fitchratings.com'.
--'Rating U.S. Municipal Short-Term Debt' (
Rating U.S. Public Finance Short-Term Debt
Tel: +1 (212) 908 0526
Source: Fitch Ratings
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