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Advanced Notice Of Proposed Criteria Change?U.S. CMBS Rating Methodology And Assumptions For Conduit/Fusion Pools Jul 11
Standard & Poors, July 2011
Abstract
NEW YORK (Standard & Poor's) July 27, 2011--Standard & Poor's Ratings Services is reviewing the application of our conduit/fusion CMBS criteria in relation to the calculation of debt service coverage ratios (DSCRs). The review was prompted by the discovery of potentially conflicting methods of calculation in use. We intend the review to harmonize the potentially conflicting methods without changing the overall calibration of the conduit/fusion CMBS criteria. More specifically, Standard & Poor's started using two methods to calculate DSCRs in early 2011. Before that time, DSCRs used in the criteria were based on the worse of (i) actual debt service amounts and (ii) loan constants specified in the criteria article. Starting around January 2011, Standard & Poor's started using a...
Action: S&P Company Announcement
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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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