Moody's Investors Service will start publishing presale reports for its rated U.S. subprime RMBS. The reports will offer the market a view of a transaction's rating drivers before the deal closes and, through standardized reporting, allow investors to make comparisons across deals.
"These reports will open a dialogue with investors during the period when they need information the most - when they are considering all the factors related to their investment decisions," said Moody's Managing Director Warren Kornfeld in a release. The presale reports will detail a transaction's provisional ratings as well as outline key credit considerations driving Moody's opinion. Among other items, the presale reports will also usually have a summary of pool characteristics and average quarterly subprime RMBS pool characteristics.