...This report presents Fitch Ratings` updated criteria assumptions for analysing securities backed by French residential loans, and replaces the previous report with the same title. The published criteria assumptions will be used for rating both new and existing RMBS transactions, while the loss assumptions will also apply to covered bond (CVB) programmes. In addition, the market value decline (MVD) assumptions will apply to SME CLO transactions secured by residential real estate. For a comprehensive understanding of Fitch`s approach to assigning new ratings to French RMBS, this report should be viewed together with the reports EMEA RMBS Master Rating Criteria, EMEA Residential Mortgage Loss Criteria and EMEA RMBS Cash Flow Analysis Criteria (and other relevant RMBS criteria and research listed under Related Research and Related Criteria)....
