OREANDA-NEWS. Fitch Ratings received broad-based, constructive market feedback during the comment period for proposed revisions to its U.S. state and local government rating criteria (Exposure Draft: U.S. Tax-Supported Rating Criteria, dated Sept. 10, 2015). Fitch is in the process of making modifications to address these comments and suggestions.

Fitch now expects that final criteria will be published by the end of the first quarter of 2016 (1Q16). We will also publish Fitch's planned response to specific feedback prior to implementation. A new user guide will be launched concurrently to provide greater insight into the rating process under the new criteria.

Once approved, the criteria will be applied immediately to any new issue and surveillance rating review. Fitch anticipates the criteria to be applied to all ratings that fall under the criteria within 12 months after publication.