Fitch Updates Surveillance Criteria for U.S. CREL CDOs

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has released updated Surveillance Criteria for U.S. CREL CDOs.

There have been minimal updates since the last publication of the report. The high-end of the range of cash flow stresses has been expanded for the investment-grade stresses. When the high-end of the range is applied to current reported cash flows in conjunction with Fitch long-term cap rates, the 'A' stress market value decline is in line with the peak-to-trough market value decline experienced in the most recent recession. This change is not expected to have any rating impact because in the past year Fitch typically analyzed the transactions under a sensitivity analysis which used similar high-end stresses.

The new report replaces 'Surveillance Criteria for U.S. CREL CDOs' dated Nov. 24, 2014.

The revised report is available at 'www.fitchratings.com' or by clicking on the link.

Additional information is available at 'www.fitchratings.com'.

Surveillance Criteria for U.S. CREL CDOs

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=873275

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View source version on businesswire.com: http://www.businesswire.com/news/home/20151117006592/en/

Fitch Ratings
Karen Trebach
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Fitch Ratings, Inc.
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Mary MacNeill
Managing Director
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Media Relations:
Sandro Scenga, +1-212-908-0278
[email protected]

Source: Fitch Ratings

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