Fitch Publishes Updated Colombian Residential Mortgage Criteria

BOGOTA, Colombia--(BUSINESS WIRE)-- Fitch Ratings has today published updated rating criteria for assessing credit risk in Colombian residential mortgage loan pools that are used as collateral for structured finance transactions. This report updates and replaces the prior criteria report with the same name, dated Sept. 28, 2012. There have been no material changes in approach from the previous version; therefore, Fitch expects no impact on existing ratings.

This report sets out the Colombia-specific issues addressed in Fitch Ratings' analysis of securities backed by Colombian residential mortgage loans. The addendum should be viewed together with Fitch Research on 'Rating Criteria for RMBS in Latin America,' dated January 2015, available on Fitch's Web site at www.fitchratings.com, for a comprehensive understanding of Fitch's approach to rating Colombian RMBS transactions.

The published criteria assumptions will be utilized in rating new and existing Colombian RMBS transactions. Fitch's current portfolio is exclusively rated on the national scale identified by (col) ratings suffix. The RMBS transaction surveillance process involves a number of quantitative and qualitative factors, including an assessment of market developments, loan-by-loan and pool-level analysis, and a comparison with current credit enhancement levels against a stress loss assumption at each rating category.

Additional information is available at 'www.fitchratings.com'.

RMBS Latin America Criteria Addendum - Colombia

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=872294

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151019006662/en/

Fitch Ratings
Santiago Toro, +57-1-486-6770 ext 1210
Associate Director
Fitch Ratings Bogota
Calle 69 A# 9 -85
Bogota, Colombia
or
Maria Paula Moreno, +57-1-486-6770 ext 1210
Senior Director
or
Juan Pablo Gil, +1-312-606-2301
Senior Director
or
Greg Kabance, +1-312-368-2052
Managing Director
or
Media Relations
Alyssa Castelli, New York, +1-212-908-0540
[email protected]

Source: Fitch Ratings

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