OREANDA-NEWS. Fitch Ratings has updated its Counterparty Criteria for Structured Finance (SF) and Covered Bonds (CVB), which details its approach to addressing counterparty risk. The updated report replaces the previous version with the same title dated 14 May 2014.

The final criteria report has not materially changed from the exposure draft published on 14 April 2016.

Fitch received written comments on the exposure draft from six respondents, all of whom requested confidentiality. Fitch would like to thank the market participants who provided feedback.

The revised criteria could have a positive rating impact on up to 10 tranches across nine SF transactions globally and a negative impact on one tranche of an Australian ABS transaction.

The ratings of two CVB programmes out of 130 that we publicly rate globally could be positively affected by the proposed changes on Counterparty Minimum Ratings for CVB.