Standard & Poors published its first monthly European ABCP surveillance snapshot, the rating agency said in a release.
The snapshot contains portfolio data on all the European conduits that it rates.
Specifically, it provides monthly information on outstanding, program-wide credit enhancement, supporting counterparties, and key S&P rating and collateral considerations for all of the European-based conduits that the agency rates, surveillance credit analyst Benjamin Benbouzid said.
S&P is also establishing greater minimum portfolio disclosure standards for all ABCP conduits that it rates, Benbouzid added.
The snapshot will be reported monthly to update the market on data that the conduit administrators provide to S&P as part of its surveillance process.The report forms part of an effort to promote greater European ABCP market transparency and allows market participants to better compare all S&P-rated conduits, Benbouzid said.