Following its monthly surveillance review, Fitch identified four of its
$7.99 billion U.S. ABS Equipment Leasing/Loans transactions as 'Under
Analysis', indicating that Fitch will be issuing a rating action within
30 days. Twenty-seven Equipment Leasing/Loans transactions were
designated with a SMARTView date of May 5, 2008, indicating that no
in-depth review is necessary.
To review a list of deals Under Analysis use the following link
(accessible to all users of the Fitch web site): www.fitchratings.com/smartview
SMARTView, a recent addition to Fitch's Structured Finance Surveillance,
Metrics, Analytics, Research, and Tools (SMART) products, monitors
collateral performance in structured finance bonds providing investors
greater insight to Fitch's internal analytic screening process and
furthers transparency by publicly identifying the deals that Fitch has
identified as requiring an immediate review.
As Fitch receives monthly information on structured finance transactions
from trustees and servicers, Fitch analysts run the data through various
internal algorithms that identify classes of a transaction as possible
candidates for upgrade or downgrade. Fitch's analysts scrutinize the
output to decide which deals need a formal review, which are noted as
'under analysis', and those deals which can be given a SMARTView date.
SMARTView is available on the Fitch Ratings web site at www.fitchratings.com,
along with the report titled 'SMARTView, Fitch U.S. Structured Finance
Monthly Public Reviews'.
Fitch's rating definitions and the terms of use of such ratings are
available on the agency's public site, www.fitchratings.com.
Published ratings, criteria and methodologies are available from this
site, at all times. Fitch's code of conduct, confidentiality, conflicts
of interest, affiliate firewall, compliance and other relevant policies
and procedures are also available from the 'Code of Conduct' section of
this site.
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