...Assessing Credit Risk: This report presents Fitch Ratings' asset analysis approach for rating covered bonds and collateralised debt obligations (CDOs) backed by assets exposed to European central, local and regional governments (LRG) and public sector entities (PSE), collectively known as public entities (PE). Criteria Application: The criteria assumptions are used to assess the asset-related risks in new and existing covered bonds and CDOs backed by PE collateral. To provide a complete analysis of a PE covered bond programme these criteria are applied in conjunction with the Covered Bonds Rating Criteria, dated 8 August 2014....
