(The following statement was released by the rating agency)Link to Fitch Ratings' Report: Rating Criteria for Commercial Mortgage-Backed Securities (CMBS) and Loans in EMEA
  http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749929
 LONDON, June 10 (Fitch) Fitch Ratings has updated its EMEA CMBS and Loan Rating criteria following publication of an exposure draft on 14 April 2014. The update does not affect any existing ratings.The exposure draft requested feedback on the following areas (i) a widening of the criteria scope to include loan ratings, (ii) enhanced disclosure on the setting of key real estate assumptions and guidance ranges for those key assumptions, and (iii) greater insight into Fitch's analysis of contracted income.The criteria update is consistent with proposals of the exposure draft with the following exceptions. Firstly, in addition to the exposure draft proposals the criteria will also apply a rating cap to certain CMBS transactions in jurisdictions (eg Italy) where judicial recovery timing is uncertain. Secondly, the criteria report has been extended with respect to the loan rating methodology to allow for greater credit for loans supported by strong covenant package In jurisdictions (eg UK) where the power to enforce such covenants is generally recognised by the courts.The criteria replace the report tilted "EMEA CMBS Rating Criteria" published on 3 April 2013. Fitch would like to thank market participants for their feedback on this criteria proposal. During the feedback period Fitch received two written responses marked as confidential by the respondent. There were no other written responses.  The report "EMEA CMBS and Loan Rating Criteria" is available at 
  www.fitchratings.com.
 Contacts:Euan Gatfield Managing Director+44 20 3530 1157Fitch Ratings Limited30 North ColonnadeLondon E14 5GNMedia Relations: Athos Larkou, London, Tel: +44 203 530 1549, Email: athos.larkou@fitchratings.com.Additional information is available at 
  www.fitchratings.com.
 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

(Repeat for additional subscribers)

June 10 (Reuters) - (The following statement was released by the rating agency)

Fitch Ratings has updated its EMEA CMBS and Loan Rating criteria following publication of an exposure draft on 14 April 2014. The update does not affect any existing ratings.

The exposure draft requested feedback on the following areas (i) a widening of the criteria scope to include loan ratings, (ii) enhanced disclosure on the setting of key real estate assumptions and guidance ranges for those key assumptions, and (iii) greater insight into Fitch's analysis of contracted income.

The criteria update is consistent with proposals of the exposure draft with the following exceptions. Firstly, in addition to the exposure draft proposals the criteria will also apply a rating cap to certain CMBS transactions in jurisdictions (eg Italy) where judicial recovery timing is uncertain. Secondly, the criteria report has been extended with respect to the loan rating methodology to allow for greater credit for loans supported by strong covenant package In jurisdictions (eg UK) where the power to enforce such covenants is generally recognised by the courts.

The criteria replace the report tilted "EMEA CMBS Rating Criteria" published on 3 April 2013.

Fitch would like to thank market participants for their feedback on this criteria proposal. During the feedback period Fitch received two written responses marked as confidential by the respondent. There were no other written responses.

The report "EMEA CMBS and Loan Rating Criteria" is available in the below link

Link to Fitch Ratings' Report: Rating Criteria for Commercial Mortgage-Backed Securities (CMBS) and Loans in EMEA

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749929

((Bangalore Ratings Team, Hotline:+91 80 6677 2513 Jyothsna.BN@thomsonreuters.com, Group id: BangaloreRatings@thomsonreuters.com, Reuters Messaging: Jyothsna.BN.thomsonreuters.com@reuters.net))

Keywords: Fitch Updates EMEA CMBS and Loan Rating Criteria;