Global credit rating agency Moody's Investors Service on Thursday said it has published its approach to rating Indian residential mortgage - backed securities (RMBS), slightly tweaking its existing approach.
In a statement, the agency said it would use the Moody's Individual Loan Analysis (MILAN) frame for rating Indian RMBS.
"The MILAN approach is used for Moody's residential mortgage collateral analysis and represents a key element of Moody's loan and portfolio level evaluation of RMBS, " Moody's said.
According to Moody's benchmarking the Indian residential real - estate market to other jurisdictions that use MILAN was the key driver behind the calibration of MILAN for India.
Moody's has used parameters from the New Securitization Market (NSM) settings of MILAN for Indian residential mortgage pools, with some changes to reflect India - specific elements.
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