Distressed Ratings Downgrade

From Open Risk Manual

Definition

Distressed Ratings Downgrade. A Credit Event. The fact that the rating of the reference obligation is downgraded to a distressed rating level.

Notes

From a usage standpoint, this credit event is typically not applicable in case of RMBS trades.

FpML full definition: 'Results from the fact that the rating of the reference obligation is downgraded to a distressed rating level. From a usage standpoint, this credit event is typically not applicable in case of RMBS trades.'


Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.

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