OREANDA-NEWS. Fitch Ratings has published a revised criteria report for collateralised debt obligations backed by loans to small - and medium-sized enterprises (SMEs). The report replaces the existing "Criteria for Rating Granular Corporate Balance-Sheet Securitisations (SME CLOs)", dated 23 May 2016.

The amended report corrects the pair-wise correlation assumption for companies in the same country and industry. Fitch assumes a pair-wise correlation of 26%, rather than 27%, for non-US obligors in the same country and industry.