Rating Agency Developments

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On March 25, S&P released its updated criteria for rating government-related entities. Report

On March 25, Fitch released its updated criteria for rating commercial mortgage-backed securities (CMBS) in Asia-Pacific (APAC), including Japan, Australia and Singapore. Report

On March 25, DBRS released its criteria for rating Canadian federal, provincial and municipal government STRIPS (Separate Trading of Registered Interest and Principal Securities). Report

On March 23, S&P clarified its criteria as to what conditions must be met to raise an issue credit rating from ‘D’ (default), or an issuer credit rating from ‘D’ or ‘SD’ (selective default). Report

On March 23, DBRS released its criteria for evaluating and incorporating external and internal support into its ratings of banks and financial institutions. Report

On March 20, Fitch released its updated criteria for analyzing large loans in U.S. CMBS transactions. Report

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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