Standard & Poor's published a Request For Comment where it seeks market feedback on the proposed changes to the methodologies and assumptions it uses to rate U.S. conduit or conduit/fusion CMBS deals.

While the rating agency will leave its property evaluation criteria unchanged, it said that the movement toward determining credit enhancement levels reflects a considerable update to its methodologies and assumptions. This also hinges on establishing a enhancement for 'AAA' ratings that is enough to enable tranches rated at that level to withstand market conditions commensurate with an extreme economic downturn without defaulting.

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