A new derivation
Fitch Ratings recently spun off its collateralised debt obligation and structured credit ratings group into Derivative Fitch. Senior director Rachel Hardee talks to Pamela Tang
The increasing complexity of credit derivatives transactions has made the task of rating them equally difficult. While the liquidity of credit default swaps (CDSs) has improved, the same cannot be said for synthetic credit products that remain private, illiquid and opaque. Fitch Ratings has taken a step to demystify credit derivatives with the creation of a new subsidiary: Derivative Fitch. As its name suggests, the spin-off is dedicated to rating, research, analytics and evaluation of credit
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