...The criteria described in this report can be applied through use of the Fitch Portfolio Credit Model (PCM), available at www.fitchratings.com. This report supersedes and replaces the existing criteria report: Global Rating Criteria for Corporate CDOs, dated 8 August 2013. The report also addresses cash flow modelling assumptions for corporate CDOs. This criteria report details Fitch Ratings' methodology for analysing portfolios of corporate credit for rating collateralised debt obligations (CDOs). It outlines the qualitative and quantitative factors considered in Fitch's analysis of portfolios of corporate credit. Legal and counterparty risks in corporate CDO transactions are outside the scope of this report and are addressed in the reports entitled: Counterparty Criteria for Structured Finance and Covered Bonds Transactions and Global Structured Finance Rating Criteria (see Related Criteria). This criteria report is also the framework for rating project finance (PF) CDOs. Fitch PCM is...
