Standard & Poor's Ratings Services' believes that commercial paper (CP) guaranteed by the Federal Deposit Insurance Corp. (FDIC) would fit within our minimum guidelines for securities rated 'A-1+' or equivalent for its principal stability fund ratings (PSFRs) regardless of our credit rating on the issuer. This would include rated government and treasury money-market funds, as long as certain conditions are met. We do not anticipate any rating changes resulting from this criteria update. We are refining and adapting our methodology and assumptions for funds ratings related to "Criteria: Principles of Corporate and Government Ratings," published June 26, 2007, on RatingsDirect. We are publishing this article to help market participants better understand our approach to reviewing PSFRs. This article updates and...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.