The one notch uplift for higher recoveries that Fitch applies to regulated utility senior unsecured debt is no longer applied where a sovereign's rating falls below that of the utility's senior unsecured debt rating. Instead, in that case the senior unsecured debt rating is aligned with the utility's IDR. Fitch believes that the traditionally higher rates of recovery for utility senior debt are less predictable in a distressed sovereign environment than in the case of an idiosyncratic ...
Premium Content (PAID Subscription Required)
"TEXT-Fitch = 2" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: firstname.lastname@example.org or phone: (248) 799-2642