Fitch Ratings recently held a Webcast to discuss Loan-Only Credit Default Swaps (LCDS) and their broad implications for credit markets.

The Webcast was held in conjunction with the publication of a special Fitch report on the LCDS market and the expected release of International Swaps and Derivatives Association (ISDA) LCDS trading standards.

The Webcast replay and full report can be accessed on Fitch's Website at www.fitchratings.com. The replay can also be accessed at http://www.visualwebcaster.com/event.asp?id=34064.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 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.