Standard & Poor's Ratings Services has
released its first glossary of securitization terms
LONDON (Standard & Poor's) July 1, 2003--Standard
& Poor's Ratings Services has
released its first glossary of securitization terms, providing a
comprehensive
overview of the terms currently used in the structured finance market.
According to Kurt Sampson, managing director and
head of Standard & Poor's
European Structured Finance Ratings group, the glossary aims to
bring
clarification to a jargon-filled marketplace.
"Securitization is a fast-evolving form of
finance and the language we use to
describe the environment is always changing," he said. "Standard
& Poor's is at
the forefront of these changes and so we consider ourselves best-placed
to help
market participants keep up-to-date."
Mr. Sampson added that transparency in the marketplace
has always been part of
Standard & Poor's ethos, from its ratings and analysis to its
commentary, and
this glossary serves to further strengthen this.
"The glossary has a special focus on the terms
used in the growing European
market, in fact we have also published an Italian translation, but
we expect it
will prove very useful in all structured finance markets,"
he said.
The glossary will be of wide value not only in
geographic terms but also
across the spectrum of professionals involved in the marketplace,
Mr. Sampson
added.
"This glossary should benefit all market players,
from originators and
arrangers to ratings analysts, investors, and journalists,"
he said.
Mr. Sampson concluded with an expectation that
active feedback from Standard &
Poor's many market contacts will result in the glossary being kept
current:
"Listening to the views of market participants allows us to
adapt our products,
including the glossary, to reflect the evolution of the market,
not only in
Europe but in any of the world's markets in which Standard &
Poor's is active."
The report, entitled "Glossary of Securitization
Terms" and published June 25,
2003, is available HERE
Comments on the glossary can be e-mailed to
StructuredFinanceEurope@standardandpoors.com
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