Fitch Updates U.S. Public Finance Revenue-Supported Rating Criteria

NEW YORK--()--Link to Fitch Ratings' Report: Revenue-Supported Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=750012

Fitch Ratings has updated its master rating criteria report titled 'Revenue-Supported Rating Criteria.' The report replaces Fitch's existing rating criteria published June 3, 2013. No changes to existing ratings are expected as a result of the update.

Fitch has identified four key rating drivers that affect the credit quality of revenue-supported issuers:

--Effective Governance and Management: A governing body and senior administration's ability to establish and implement an organization's policies and principles;

--Operating Cash Flow Sufficiency: The ability to generate cash flow from operations sufficient to fund debt service obligations;

--Debt Management: The ability to service planned debt from existing operations, manage interest rate risk and comply with legal provisions;

--Financial Profile Evaluation: An analysis of a borrower's operational performance, liquidity and debt load, as well as a qualitative review of the factors that can modulate risk levels.

The updated criteria report is available at 'www.fitchratings.com'.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Rating U.S. Municipal Short-Term Debt' (Dec. 9, 2013).

Applicable Criteria and Related Research:

Rating U.S. Public Finance Short-Term Debt

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=724680

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Contacts

Fitch Ratings
Media Relations
Elizabeth Fogerty, New York
Tel: +1 (212) 908 0526
Email: elizabeth.fogerty@fitchratings.com
or
Dennis M. Pidherny
Managing Director
+1-212-908-0738
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004

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Contacts

Fitch Ratings
Media Relations
Elizabeth Fogerty, New York
Tel: +1 (212) 908 0526
Email: elizabeth.fogerty@fitchratings.com
or
Dennis M. Pidherny
Managing Director
+1-212-908-0738
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004