June 7, 2013 / 8:12 AM / 5 years ago

RPT-Fitch updates Japan CMBS surveillance criteria; no rating impact

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June 7 (Reuters) - (The following statement was released by the rating agency)

Fitch Ratings has updated its criteria for Japanese CMBS surveillance. The revision does not contain any material changes and will not have any rating impact on existing Japanese CMBS transactions.

This criteria detail Fitch’s analytical approach when monitoring the performance and ratings of Japanese CMBS transactions.

Using the same analytical framework as that of the initial rating assignment in monitoring Japanese CMBS, more emphasis is being placed on loan-to-value focused analysis, revaluation of collateral, and time to underlying loans’ maturity, as well as to transactions’ legal final maturity.

The primary change relates to a more extensive explanation of methodology used to assess property values in stressed market environments.

The report titled “Criteria for Japanese CMBS Surveillance” is available at www.fitchratings.com or by clicking on the link above. It replaces the previous report with the same title dated 14 June 2012.

Link to Fitch Ratings’ Report: Criteria for Japanese CMBS Surveillance


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