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ARCHIVE | Criteria | Structured Finance | CDOs: Global Cash Flow And Synthetic CDO Criteria: CDO Recovery Levels And Timing Mar 02
Standard & Poors, March 2002
Abstract
Editor's Note: This criteria is no longer current. It has been superseded by the articles titled: 'Proposed Changes To Global Methodologies And Assumptions For Rating Corporate Cash Flow And Synthetic CDOs,' published March 17, 2009; 'Updated Global Recovery Rates For Use in Cash Flow CDOs,' published July 23, 2007; and 'Update To General Cash Flow Analytics Criteria For CDO Securitizations,' published Oct. 17, 2006. Recovery timing and loss severity assumptions are an intrinsic part of CDO transaction analyses. They aim to predict the loss severity or expected loss on an asset upon default by the obligor, and when this is realized, thus the credit enhancement needed to cover such defaults. In Standard & Poor's view recovery rates depend on three...
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.
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