Cyberattack scenarios weighed
S&P reports that it has seen more credit-relevant cyber events in the last six months than in the previous six years, including the first structured finance transaction reporting an operational disruption following a ransomware attack on the originator and servicer (SCI 28 May). The rating agency says it has explored several hypothetical scenarios to identify areas of potential risk and consider how structural features common in securitisations may help issuers respond to, and recover from, a material cyber event.
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