...Fitch Ratings does not rate specifically to event risk. However, Fitch's ratings reflect an assessment of an entity's credit characteristics that speak to its overall resiliency to manage unexpected events. Under a disaster scenario, those issuers that possess revenue diversity, as well as an ample supply of reserves and liquid assets, are afforded the ability to quickly restore operating capabilities, as well as finance the clean-up and recovery effort, until private insurance and state and/or federal disaster reimbursement funds are received. However, governmental reimbursements do not cover revenue loss. A diverse source of revenues decreases the likelihood of a temporary and crucial loss of income in the wake of a disaster. Issuers lacking these characteristics are less protected against credit deterioration following an event. Finally, ratings do not prospectively reflect the most extreme events that may alter the fundamental long-term credit characteristics of an entity -- whether...
