Fitch Ratings has published an updated criteria report for rating oil-vessel-backed financing transactions. The report replaces the prior version published Nov. 10, 2021.

The report outlines Fitch’s criteria for rating transactions backed by long-term charter and services agreements related to offshore vessels used in the production stage. The asset types currently include floating-production storage and offloading units and shuttle tankers.

The updated Oil-Vessel Backed Financing Rating criteria includes some text amendments and clarifications relating to the terminology of the rating case scenarios. Overall, there have been no substantial changes from the previous version to Fitch’s approach, and therefore, Fitch expects no impact on existing ratings.
Source: Fitch Ratings