• S&P Reconsiders De-Linked Rating for Bank-Sponsored Securitizations that Fall Outside FDIC’s Final Safe Harbor Rule
  • November 23, 2010
  • Law Firm: Cadwalader Wickersham Taft LLP - New York Office
  • Standard & Poor’s issued an update (the “Update”) last week indicating that it could issue a delinked, asset-based credit rating for securities issued in a securitization sponsored by an insured depository institution (“Bank”) that qualifies as a sale under GAAP, even if the transaction fails to comply with the Federal Deposit Insurance Corporation’s new securitization safe harbor rule (the “Rule”).