Global Ratings Criteria Published For Financial Future Flow Transactions Nov 11
Standard & Poors, November 2011
Abstract
NEW YORK (Standard & Poor's) Nov. 15, 2011--Standard & Poor's Ratings Services yesterday published its global methodology and assumptions for ratings financial future flow securitizations. Specifically, the criteria apply to transactions whose repayment of principal and interest are secured by the generation of future diversified payment right (DPR) and merchant voucher (MV) receivables. DPR transactions are securitizations of international wire transfers, most commonly arising from export-related financing, foreign direct investment (FDI), portfolio investment, and remittances from citizens working abroad who send money back home. Securitizations of MVs represent financial obligations of credit card companies (e.g., VISA, MasterCard, and American Express) to pay back businesses or financial institutions for purchases and cash withdrawals made with foreign credit or debit cards. The...
Action: General Comment
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: News
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