Fitch Ratings
Basel II securitisation treatment too harsh, says Fitch
The treatment of securitisations under current proposals in the Basel Committee on Banking Supervision's Basel II capital Accord is likely to be "overly punitive", according to credit rating agency Fitch.
Basel II securitisation treatment too harsh, says Fitch
The treatment of securitisations under current proposals in the Basel Committee on Banking Supervision’s Basel II capital Accord is likely to be “overly punitive”, according to credit rating agency Fitch.
IT infrastructure influences credit ratings, say agencies
NEW YORK - Credit rating agencies, including Standard & Poor's (S&P), Moody’s Investor Services and Fitch Ratings, are now more frequently assessing buy-side technology in terms of supporting operations and, in some instances, sources of operational risk.
Rethinking European power
European energy firms are seeking to reposition their products and strategies in advance of European Union market deregulation. FAME Energy reports
Meeting Basel II head on
Regulators are urging banks to update their rating methodologies in preparation for Basel II. Fitch Risk's Treeve Coomber thinks his new product will help to meet this challenge.
Rating agencies open can of worms
NEW YORK — Rating agencies are coming under much closer scrutiny as providers of operational risk analysis, as a result of the Basel Accord revisions and recent US corporate scandals.
Poor auto sales and Fiat downgrade drives some spreads wider
The downgrade of debt issued by troubled Italian auto manufacturer Fiat to junk status sent the cost of its credit protection wider by about 125 basis points to 875/975bp. And poor US February auto sales released mid-week also prompted the widening on…
Climbing the competition Pole
The Polish government hopes to boost competition in the electricity market through a controversial securitisation plan that it will use to buy out long-term contracts between generators and the transmission grid operator. Maria Kielmas reports
Fitch acquires IC2 First op risk database
Fitch Risk, a division of rating agency Fitch Ratings, has acquired the IC2 First (financial institutions risk scenario trends) database from financial services provider, Zurich Financial Services Group.
Fitch predicts global CDO market volatility to continue in 2003
Credit agency Fitch predicts that ratings volatility in the global collateralised debt obligation market is likely to continue this year, according to its latest report, ‘Global CDO Quarterly’.
Fitch unveils OpVantage version 5.0
Fitch Risk, a unit of rating agency Fitch, plans to release a March update of its OpVar software, which provides a database of operational loss events and software that helps banks better model operational risk.
Basel II likely to boost credit markets, says Fitch
The Basel II capital Accord is likely to boost credit market funding activities, particularly for lower investment-grade companies seeking financing, according to Fitch, the credit rating agency.
Basel II likely to boost credit markets, says Fitch
The Basel II capital Accord is likely to boost credit market funding activities, particularly for lower investment-grade companies seeking financing, according to Fitch, the credit rating agency.
Fitch upgrades OpVar tool for operational risk
Fitch Ratings has added a range of new services to its OpVar software suite, an operational risk management quantification tool. Version 5.0, scheduled for release in March, now offers an enhanced data collection module and improved data management…
Nationalisation required for Japanese bank recovery, says Fitch
A partial nationalisation of Japan's ailing banks may be the only way to resolve the country's economic woes, with recent efforts by individual institutions to restructure their balance sheets unlikely to lead to an autonomous recovery in the banking…
Fitch upgrades OpVar tool for operational risk
Fitch Risk Management has added a range of new services to its OpVar software suite, an operational risk management quantification tool. Version 5.0, scheduled for release in March, now offers an enhanced data collection module and improved data…
Nationalisation required for Japanese bank recovery, says Fitch
A partial nationalisation of Japan’s ailing banks may be the only way to resolve the country’s economic woes, with recent efforts by individual institutions to restructure their balance sheets unlikely to lead to an autonomous recovery in the banking…
Managed synthetic CDOs to grow rapidly in 2003, says Fitch
A new report by credit rating agency Fitch Ratings has predicted rapid growth in managed synthetic collateralised debt obligations (CDOs) this year.
BIS puts spotlight on credit risk transfer
In a report published today, the Bank for International Settlements (BIS) highlighted disclosure, concentration and the role of ratings agencies as key features of the credit risk transfer market that may need to be addressed with regulation.
Fitch to investigate credit derivatives risk concentrations
Credit rating agency Fitch Ratings is concerned that the rapid growth and lack of transparency in the synthetic credit markets could be leading to alarming concentrations of risk with specific market participants.
Fitch predicts more gloom for US energy companies
US power and gas companies face another grim year in 2003 as liquidity risk, market weakness and litigation and regulatory concerns seem set to continue, according to a new report by rating agency Fitch.
Scor spreads widen 350bp after firm reveals €38m credit derivatives losses
The cost of senior debt protection on Scor ballooned to 850/1,000 basis points over Libor today, after the French reinsurer revealed, yesterday that it would make a net loss of €250 million this year, following major losses in credit derivatives and…
Cost of protection for Sears surges following poor earnings
The cost of credit protection for US retailer and financial services group Sears sharply widened 150 basis points to 400/480bp, following a negative earnings statement yesterday. Worsening problems with credit-card debt prompted Sears to report a…
Gifford Fong Associates to advise Fitch on revamping credit analysis
Rating agency Fitch has engaged Gifford Fong Associates, a Lafayette, California-based fixed-income analytics firm, to reassess its credit risk metrics and develop new rating methodologies for its structured finance and risk management activities.