Fitch Ratings

Fitch working on new municipal CDOs in the US

Fitch Ratings is reviewing several pools composed mostly of already issued municipal securities as potential collateral for a new asset class – municipal collateralised debt obligations (CDOs). Marion Silverman, a senior director based in Fitch Ratings’…

CDO ratings hurt by rates risk, says Fitch

The market preoccupation with default rates negatively affecting collateralised debt obligations (CDOs) ignores the equal risk of interest rate risk embedded in high-yield cashflow instruments, especially for deals completed between 1997 and 1999,…

Changes afoot at rating agencies

Rating agencies are under fire once again, this time for failing to anticipate Enron’s bankruptcy. But they are looking to improve their methodology. What do the changes mean for banks that will have to rely on their ratings under Basel II?

Fitch first to assign CDO asset manager ratings

Fitch will become the first rating agency to assign credit ratings to CDO (collateralised debt obligations) asset managers. The New York-based agency is taking a new, flexible approach to its methodology for its forthcoming rating process, aimed at…

Fitch sets up risk management subsidiary

Rating agency Fitch has set up Fitch Risk Management(FRM) to provide analytical risk management tools and services to financial institutions, investors and regulatory bodies throughout the US and Europe.

Airline exposures threaten Landesbank ratings

Germany’s state-controlled Landesbanks could see their premier ‘AAA’ ratings downgraded due to large exposure to the airline industry. Landesbanks, which have carved a niche in airline financing in the past few years, have gross exposures to the airline…

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