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S&P Credit Research2301 word report
published Jun 04, 2009
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S&P Credit Research
| Abstract: | Standard&Poor's Ratings Services recently published a Request for Comment (RFC) article on proposed changes to its methodology and assumptions for rating U.S. commercial mortgage-backed securities (CMBS) (see ?U.S. CMBS Rating Methodology And Assumptions For Conduit/Fusion Pools," published May 26, 2009, on RatingsDirect). The proposed criteria changes would represent a significant change in the method by which Standard&Poor's determines credit enhancement levels for CMBS transactions. The proposed methodology details 'AAA' credit enhancement levels that we believe are sufficient to withstand an extreme economic downturn without defaulting. We believe the method we used to arrive at the potential rating impact, which is detailed below, provides a good indication of the potential magnitude the proposal will have if we
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| Brief Excerpt: | RESEARCH Ratings Definitions The Potential Rating Impact Of Proposed Methodology Changes On U.S. CMBS Publication date: 04-Jun-2009 Primary Credit Analyst: Harris A Trifon, New York (1) 212-438-1470; harris_trifon@standardandpoors.com...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
