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Structured Finance

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Learn About Structured Finance

Standard & Poor's Structured Finance ratings express forward-looking opinions about the credit worthiness of issuers and obligations. Our credit rating analysts specialize in evaluating, among other things, the credit quality, likelihood of default, and potential risks in securitizations.

Asset classes evaluated/rated by Standard & Poor's:

Asset-Backed Securities

ABS ratings cover a broad range of asset types, including revolving consumer assets (credit cards); synthetic securities; operating assets; future flows; auto loans and leases; manufactured housing; and student loans.

Covered Bonds

Covered Bond Ratings reflect Standard & Poor’s Ratings Services’ opinions on the likelihood that payments of interest and repayment of principal will be made in full and on time according to the original terms and conditions of the bond, even after the insolvency of the issuer.

Commercial Mortgage-Backed Securities

CMBS securities include conduit fusion, floating rate, single borrower, and CRE CDO backed by loans and commercial properties.

Residential Mortgage-Backed Securities

RMBS covers a broad range of collateral-backed transactions, including covered bonds, prime jumbo, Alternative A (Alt A), and subprime mortgage loans.

Collateralized Debt Obligations

CDO ratings allow market participants to determine the risk of a wide variety of debt types including Collateralized Loan Obligations, credit derivatives and market value structures on corporate loans, treasuries, agency bonds and other structured finance assets.

Servicer Evaluations

Standard & Poor's Servicer Evaluations provide market participants with an independent, objective view of a company's ability to service loans and asset portfolios.

Structured Finance Ratings Criteria
For more information on how we analyze structured financial instruments, see our ratings criteria.

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