Standard & Poor's said will release the names of the providers of rating-dependent liquidity and credit support to ABCP conduits.
The rating agency expects to start including this information in its regular surveillance publishing on RatingsDirect for all reporting periods subsequent to March 31.
This announcement is part of a broad series of moves intended to enhance transparency into the firm's ratings process. It believes that this is an important step toward enabling ABCP buyers to better evaluate their risk positions.
On May 6, S&P published a commentary discussing its views on ABCP market transparency. The ratings firm described the types of data investors have said they are seeking that includes the identity of rating-dependent liquidity and credit support providers. S&P intends to publish this information for all rated ABCP conduits.
The firm announced thatconduit sponsors who do not want their information to be published could request that S&P withdraws their ABCP rating.