xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
the reference positions must be subordinate in all respects to the unrated securitisationposition;
the maturity of the reference positions must be equal to or longer than that of the unrated position in question; and
on an ongoing basis, any inferred rating must be updated to reflect any changes in the credit assessment of the reference positions.