News Column

Fitch Publishes Updated Global Structured Finance & Covered Bonds Criteria Hierarchy

June 2, 2014



NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: Global Structured Finance & Covered Bonds Rating Criteria Hierarchy:

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749786

Fitch Ratings has published an updated version of its interactive Global Structured Finance (SF) and Covered Bonds (CVB) Rating Criteria Hierarchy (Hierarchy) that enables users to more effectively navigate the various criteria reports related to the agency's coverage of the SF and CVB markets.

This SF and CVB Hierarchy updates and replaces the report of the same title previously published on May 7, 2014. Since its last publication, Fitch has updated and republished the following SF and CVB criteria:

--'Criteria for Rating CMBS in Asia-Pacific', May 2;

--'Surveillance Criteria for Franchise Loan ABS ', May 8;

--'Counterparty Criteria for Structured Finance and Covered Bonds', May 14;

--'Counterparty Criteria for Structured Finance and Covered Bonds: Derivative Addendum', May 14;

--'Canadian Residential Mortgage Loan Loss Model Criteria', May 14;

--'Rating Criteria for Portuguese and Spanish Electricity Tariff Deficit Securitisations', May 15;

--'Global Structured Finance Rating Criteria', May 20;

--'Criteria for the Analysis of Commercial Real Estate Loans Securing Covered Bonds ', May 22;

--'Criteria for Rating Caps and Limitations in Global Structured Finance Transactions', May 28;

--'EMEA RMBS Master Rating Criteria', May 28;

--'EMEA Residential Mortgage Loss Criteria', May 28;

--'EMEA RMBS Cash Flow Analysis Criteria', May 28;

--'Criteria Addendum UK - Mortgage Loss and Cash Flow Assumptions', May 30;

--'Global Credit Card ABS Rating Criteria', May 30.

The Hierarchy organizes all SF and CVB criteria reports based on applicability to different market sectors, and provides direct links to the reports themselves. As of the date of the report, Fitch's SF and CVB groups maintain three Master, 14 Cross-Sector, and 77 Sector-Specific criteria reports, as well as two Exposure Drafts and 11 Spanish translations.

The full document, titled 'Global Structured Finance & Covered Bonds Rating Criteria Hierarchy', is available on Fitch's website at www.fitchratings.com.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Darryl Osojnak, +1-212-908-0602

Managing Director

Global Structured Finance Criteria & Model Management

Fitch Ratings, Inc.

33 Whitehall Street

New York, NY 10004

or

Max Zalaznick

Associate Director, +1-212-908-0292

Global Structured Finance Criteria & Model Management

or

Media Relations:

Sandro Scenga, New York, +1 212-908-0278

sandro.scenga@fitchratings.com

Source: Fitch Ratings


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