Rating Agency Developments - June 26, 2012

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On June 20, Fitch updated its criteria for letter of credit-supported bonds. Fitch Report.

On June 20, DBRS released its criteria for market-linked securities. DBRS Report.

On June 20, DBRS released its criteria for representations, warranties, covenants, and events of default in trust indentures. DBRS Report.

On June 20, DBRS released its criteria for guarantees and other forms of explicit support. DBRS Report.

On June 20, DBRS released its criteria for Canadian bankruptcy and restructuring legal considerations. DBRS Report.

On June 20, Fitch updated its availability-based infrastructure project rating criteria. Fitch Report.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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