(The following statement was released by the rating agency)
May 30 - Fitch Ratings has updated its criteria for special-purpose vehicles (SPV) in Structured Finance (SF) transactions. The criteria contains only minimal changes and will not have any impact for existing SF transaction ratings.
The report describes the agency’s approach to analysing bankruptcy-remote SPVs. Key rating considerations include the bankruptcy remoteness of the SPV, the isolation of the assets from the credit risk of the originator and robust legal support by way of opinions
The full report, entitled ‘Criteria for Special-Purpose Vehicles in Structured Finance Transactions’ is available at www.fitchratings.com
Link to Fitch Ratings’ Report: Criteria for Special-Purpose Vehicles in Structured Finance Transactions