OREANDA-NEWS. Fitch Ratings has updated its criteria for analysing securities backed by Spanish residential mortgage loans.

The assumptions are used for rating new and existing RMBS transactions as well as mortgage covered bond programmes. In addition the market value decline assumptions are applicable to the ratings of SME CLOs secured by residential real estate.

The criteria addendum replaces the report of the same name dated 05 June 2014.

The changes relate to the market value decline assumptions that have been updated to reflect House Price Index values up to December 2014.

The updates do not have any impact on existing ratings.