PubFinCriteria_2006_part1_final1.qxp
Additional Factorsbelow). A high overall DDP score, component scores, high net variable exposure ratio, or a speculative transac ...
Of the myriad credit events contained in a munic- ipal interest rate swap, the “additional termination event” of a rating downgr ...
■Full collateralization of swaps by the counterpar- ty prior to a downgrade to below ‘BBB’; or ■A provision for the counterparty ...
exposure, or any noteworthy component scores. The MPE measures how much a counterparty could expect to lose on a transaction ove ...
folio increases, especially when one allows for cor- relation among participants. Modeling Loss Rates More incremental analyses ...
the program during which bonds are outstanding. The number and type of runs needed to demon- strate this fact can vary depending ...
1996, with the inclusion of the Safe Drinking Water Act, the breadth of projects funded using this revolving fund vehicle expand ...
and assets that provides the dominant support for most state revolving fund ratings. In such a case Standard & Poor’s analys ...
designed to provide assistance and technical sup- port to their members—that are typically local gov- ernments. Examples of such ...
The proceeds from the offering are typically used to purchase a portfolio of assets, or may be held in the SPE. Should some of t ...
ty of principal because of the large debt service exposure that occurs at maturity of the notes; for these reasons, the guidelin ...
Eligible Investment Criteria For ‘AAA’ Rated Structured Transactions The most widespread criteria used for investment in the sec ...
■Washington Metropolitan Area Transit Authority guaranteed transit bonds. (2) Federal Housing Administration debentures. (3*) Ce ...
unsecured certificates of deposit, time deposits, and banker’s acceptances. (9) Investment in money market funds rated ‘AAAm’ or ...
■Substitute to a provider with a rating of at least ‘AA-/A-1+’ willing to offer substantially similar rates and terms as the ori ...
Withdrawal/Deposits Certain bond financings present uncertainty given the possibility of prepayment of the collateral secur- ing ...
the multiple providers involved defaulted. The foun- dation for the criteria is that the risk that the multiple providers will d ...
Defeasance...................................................................................................................... ...
■Payment of fees to the trustee, escrow agent, accountant or issuer may be made from the escrow only if they are provided for in ...
existing rating on the obligor’s long-term debt unless Standard & Poor’s receives legal comfort on the bankruptcy concerns o ...
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