...This addendum replaces the report of the same title published in September 2012. This addendum to "Rating Criteria for RMBS in Latin America," dated January 2015 and available on Fitch Ratings' website at www.fitchratings.com, sets out the Colombia-specific issues addressed in Fitch's analysis of securities backed by Colombian residential mortgage loans. The addendum should be viewed together with the report noted above for a comprehensive understanding of Fitch's approach to rating Colombian RMBS transactions. The key assumptions listed below will be used to rate new and existing Colombian RMBS transactions. Fitch's current portfolio is exclusively rated on the national scale. When assigning international ratings for Colombian RMBS transactions, Fitch will also apply its "Criteria for Rating Securitizations in Emerging Markets," dated November 2014. The `AAA(col)' assumptions will be in line with the sovereign ratings currently in the `BBB' rating category....
