National Long-term Rating
: To 'AA-(bra)' Rating
Outlook Stable, from 'A+(bra)' Rating
The positive ratings
actions for AYE and AE Supply are based on debt reductions and increases in cash flow generation at AE Supply and reduced business risk of the group.
The ABS and CDO sectors also saw meaningful increases in positive rating
activity, with the CDO sector, in particular, posting a downgrade-to-upgrade ratio of 0.
For more details on Fitch's new criteria, see the report 'Interest Rate Risk In Structured Finance Transactions: USD LIBOR', which is available on the Fitch Ratings
web site at 'www.
Outlook for AmerenCIPS is revised to Negative from Stable.
changes being made as part of the implementation of the new ratings
guidelines are being designated as 'revisions', as opposed to upgrades or downgrades.
Fitch's upgrade, affirmation, and assignment of HUM's Insurer Financial Strength (IFS) ratings
, affirmed commercial paper rating
, and the change of Rating
Outlook is not part of the implementation of the new methodology, but rather reflects Fitch's annual review of the company's performance and capitalization.
Based on the application of Fitch's IDR and RR criteria as well as the review of its Latin America international corporate rating
portfolio, below is a complete list of rating
changes made to our rating
The following ratings
are affirmed with a Stable Rating
Outlook by Fitch.
The Negative Rating
Outlook on Michigan (rated 'AA') considers the prospects of massive downsizing and uncertainty in the domestic auto industry, which dominates manufacturing employment in this state.
Best's Impairment Rate and Rating
Transition Study - 1977 to 2005 calculates one- to 15-year cumulative average impairment rates by applying the static pool methodology commonly employed by the credit rating
industry in issuer default studies.
The following rating
experienced an upward revision upon implementation of the new guidelines: