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Fitch Publishes Updated Global Structured Finance & Covered Bonds Criteria Hierarchy

July 1, 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=751653

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

The updated report replaces the report of the same title previously published on June 2, 2014. Since its last publication, Fitch has updated and published the following SF and CVB criteria:

--'Criteria Addendum: Germany - Residential Mortgage Loss and Cash Flow Assumptions', June 3;

--'Criteria Addendum: Ireland - Residential Mortgage Loss and Cash Flow Assumptions', June 3;

--'Criteria Addendum: Portugal - Residential Mortgage Loss and Cash Flow Assumptions', June 3;

--'Criteria Addendum: Netherlands - Residential Mortgage Loss and Cash Flow Assumptions', June 3;

--'Criteria Addendum: Switzerland - Residential Mortgage Loss and Cash Flow Assumptions', June 3;

'Fitch's Mortgage Covered Bond Refinancing Stresses - Excel File ', June 4;

--'Criterio Global de Calificacion de Finanzas Estructuradas', June 4;

--'Criteria Addendum: Belgium - Residential Mortgage Loss and Cash Flow Assumptions', June 4;

--'Criteria Addendum: France - Residential Mortgage Loss and Cash Flow Assumptions', June 4;

--'Criteria Addendum: Greece - Residential Mortgage Loss and Cash Flow Assumptions', June 5;

--'Criteria Addendum: Italy - Residential Mortgage Loss and Cash Flow Assumptions', June 5;

--'Criteria Addendum: Spain - Residential Mortgage Loss and Cash Flow Assumptions', June 5;

--'Criteria Addendum: South Africa - Residential Mortgage Loss and Cash Flow Assumptions', June 5;

--'Criteria for Rating U.S. Timeshare Loan ABS', June 9;

'Future Flow Securitization Rating Criteria', June 9;

--'Rating Criteria for Commercial Mortgage-Backed Securities (CMBS) and Loans in EMEA', June 10;

--'Criteria for Analyzing Multiborrower U.S. Commercial Mortgage Transactions', June 18;

--'Criteria for Rating Securitizations in Emerging Markets', June 18;

--'Rating U.S. Federal Family Education Loan Program Student Loan ABS Criteria ', June 23;

--'APAC Residential Mortgage Criteria', June 23;

--'APAC Residential Mortgage Criteria Addendum - Australia', June 23;

--'Global Criteria for Lenders' Mortgage Insurance in RMBS', June 23;

--'APAC Residential Mortgage Criteria Addendum - New Zealand', June 23;

--'EMEA Consumer ABS Rating Criteria', June 24;

--'EMEA Consumer ABS Rating Criteria - Auto Residual Value Addendum', June 24;

--'U.S. RMBS Surveillance and Re-REMIC Criteria', June 24;

--'Rating Criteria for Multi-Issuer Cedulas Hipotecarias', June 25;

--'Global Structured Finance Distressed Debt Exchange Criteria', June 30;

--'Criterio Global de Calificacion ABS de Tarjetas de Credito', June 30.

The updated hierarchy report 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 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

33 Whitehall Street

New York, NY 10004

or

Max Zalaznick, +1-212-908-0292

Associate Director

Global Structured Finance Criteria & Model Management

or

Sandro Scenga, +1-212-908-0278

Media Relations, New York

sandro.scenga@fitchratings.com


Source: Fitch Ratings


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