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Standard Forms / Documentation / Guidelines

Revised Standardized Template for Monthly CDO Trustee Reports

The Bond Market Association has released a revised version of its standardized template for monthly CDO trustee reports.  The revised version has been updated to include the following changes:

• Section 3 - Summary Statistics:  A subsection for Fitch Ratings has been added under the "Collateral Ratings Statistics" heading".
• Section 8 - Current Payment Period: Purchase/Sale Activity: Additional columns have been added for Fitch Ratings under each subheading in the section.
• Section 9 - Cumulative:  Purchase/Sale Activity:  Additional columns have been added for Fitch Ratings under each subheading in the section.
• Section 13 - Upgrade and Downgrade Watch:  Additional columns for Fitch Ratings have been added in both the upgrade and downgrade watch sections.

These additions were made in order to ensure that Fitch statistics are included in the trustee reports for deals on which Fitch provides ratings.  Please note, though, that there is no need to include blank columns for a rating agency on trustee reports for deals on which that agency does not provide ratings.

The market practice guidelines for the CDO trustee report template have not changed, and they are still available on the Association's website.