Several significant initiatives have helped to increase transparency in the global structured finance market, making it possible for rating agencies to assign credit ratings to structured finance issues without the cooperation of the relevant issuer or arranger, according to Fitch Ratings.

Unsolicited ratings, Fitch said, were generally difficult to assign in the past due to inadequate transparency levels in the structured finance market. The agency was limited to issuing sector or geographic level commentary on deals or structures for which it had a significantly different credit opinion than that indicated by the publicly available ratings.

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