Moody's Investors Service launched a new quarterly newsletter called Structured Credit Perspectives, which was published beginning today.
The aim of the publication is to help market participants stay current on its ongoing views of credit issues and performance metrics in the structured credit area.
This publication will offer Moody's insight on the latest credit issues and news and performance metrics in structured credit asset classes including collateralized synthetic obligations (CSOs), structured fnance CDOs, trust preferred CDOs, derivative product companies, market value CDOs and municipal CDOs.
The new publication will also have a Performance Metrics section highlighting key analytical findings.
Each edition will have a Surveillance Update portion that offers timely, new performance data from several asset classes.
"This new publication meets the needs of market participants for thoughtful analysis on a wide range of asset classes we cover," says Moody's Senior Managing Director Yuri Yoshizawa. "In doing so, it complements our CLO Interest newsletter."
The publication's first issue introduces the rating agency's new CSO 100 Index, which highlights trends and tracks credit performance of CSO portfolios by looking at the 100 most referenced Moody's rated corporate names.
Key findings discussed in this issue include a stabilization of ratings quality and that CSO portfolios continue to be heavily concentrated in a few industries.
CSOs are also the subject of another article in the inaugural edition, which features a report on the rating agency's first study of the quantitative effect on current CSO 'Aaa' ratings from changes in key credit risk metrics in the portfolios.
Other articles in the first issue look at the effect of the Greece crisis on CDOs, the impact of the Dante ruling on CSOs and event of default risk in trust preferred CDOs.
Structured Credit Perspectives is published by Moody's derivatives group, a source for credit ratings and research on CLOs, CBOs and other structured derivative products, and is available on Moodys.com.
The coverage of CLO and SME CLO/CDO news, analysis and performance does not form part of this publication, but appears in Moody's monthly newsletter CLO Interest.