Fitch Group

Fitch Issues Commentary on ResCap, IndyMac 

In what I believe is a first (or at least something that only occurs rarely), Fitch Ratings took the eyebrow-raising step of commenting in detail on a few of its recent rating actions today — its downgrade of ResCap and its move to place IndyMac on negative watch. While Fitch issued separate press statements, I’m going to combine the commentary into one post. (Just keep in mind that IndyMac hasn’t been downgraded — it’s only been put on notice for a potential downgrade.)