Rpt fitch updates global structured finance rating criteria; no rating imp

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(Repeat for additional subscribers)May 20 (The following statement was released by the rating agency)Fitch Ratings has updated its global criteria for rating structured finance (SF) transactions. The changes to the report will not have any rating impact on existing SF transactions.

The criteria describe Fitch's overarching approach to analysing SF transactions and identify the key considerations when assigning a SF rating. These include asset isolation and legal structure, asset quality, credit enhancement, financial structure and originator and servicer quality. The report also describes the agency's expectations regarding bankruptcy remote special purpose vehicles which are used in SF transactions. In this update, Fitch has included a description of the additional risks presented by transactions with revolving periods together with potential structural mitigants. In instances where the revolving period poses excessive risk, Fitch may decline to rate or cap the maximum achievable rating for the transaction.

The report has also been expanded to include a section on the agency's analytical approach when reviewing representations and warranties which are given by key parties to a transaction. It also identifies instances where the robustness of the representations and warranties may be subject to additional scrutiny. Other minor text updates have also been included.

The principles discussed in the criteria are applicable to all asset classes including residential and commercial mortgage-backed securities, asset-backed securities and structured credit transactions. The criteria provide an overarching framework applicable to all SF transactions which is complemented by asset class-specific and cross-sector rating criteria. The updated criteria report replaces the report of the same name dated 24 May 2013. var $relatedItems = $('lia "/article/norway-housing-idUSL5N1EU1V8"UPDATE 1-Norway\'s housing inflation at nine-year high in December/a/lilia "/article/idUSFWN1EU0JJ"BRIEF-Sesac says it will be acquired by Blackstone/a/li'), $relatedItems = $relatedItems.slice(0,10), relatedBlockLimit = Number('6'), relatedItemsTotal = $relatedItems.length, $paragraphTags = $('#article-text p'), contentParagraphs = 0, minParagraphs = Number("8"); for (i=0; i $paragraphTags.length; i++) { if ($paragraphTags[i].innerText.trim().length 0) { contentParagraphs = contentParagraphs + 1; } } if (contentParagraphs minParagraphs) { setTimeout(function(){ if (relatedItemsTotal relatedBlockLimit) { $('.first-article-divide').append('div class="related-content group-one"h3 class="related-content-title"Also In Financials/h3ul/ul/div'); $('.second-article-divide').append($('.slider.slider-module')); $('.third-article-divide').append('div class="related-content group-two"h3 class="related-content-title"Also In Financials/h3ul/ul/div'); var median = (relatedItemsTotal / 2); var $relatedContentGroupOne = $('.related-content.group-one ul'); var $relatedContentGroupTwo = $('.related-content.group-two ul'); $.each($relatedItems, function(k,v) { if (k + 1 = median) { $relatedContentGroupOne.append($relatedItems[k]); } else { $relatedContentGroupTwo.append($relatedItems[k]); } }); } else { $('.third-article-divide').append($('div class="related-content group-one"h3 class="related-content-title"Also In Financials/h3ul/ul/div')); $('.related-content ul').append($relatedItems); } },500); } Next In Financials Saudi's Riyad Bank recommends lower cash dividend for H2 2016 DUBAI, Jan 4 The board of Riyad Bank has proposed paying a cash dividend of 0.30 riyals ($0.08) per share for the second half of 2016, Saudi Arabia's fourth-largest lender by assets said on Wednesday. BRIEF-CME Group reached record average daily volume of 15.6 mln contracts in 2016 * Cme group reached record average daily volume of 15.6 million contracts in 2016, up 12 percent from 2015 Dubai Islamic Bank requests proposals for dollar sukuk - sources DUBAI, Jan 4 Dubai Islamic Bank (DIB) has asked banks to submit proposals to arrange a potential U.S. dollar-denominated sukuk issue, sources familiar with the situation said on Wednesday. MORE FROM REUTERS window._taboola = window._taboola || []; _taboola.push({ mode: 'organic-thumbnails-a', container: 'taboola-recirc', placement: 'Below Article Thumbnails - Organic', target_type: 'mix' }); Sponsored Content @media(max-this site) { #mod-bizdev-dianomi{ height: 320px; } } From Around the Web Promoted by Taboola window._taboola = window._taboola || []; _taboola.push( { mode: 'thumbnails-3X2', container: 'taboola-below-article-thumbnails', placement: 'Below Article Thumbnails', target_type: 'mix' } ); window._taboola = window._taboola || []; _taboola.push

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