The current proposal is to assign separate short-term issuer and instrument ratings, and formalise the incorporation of recovery given default expectations in the short-term ratings of instruments.
An ST IDR would be assigned to all issuers to which Fitch has also assigned short-term instrument ratings. In addition, the agency will continue to selectively assign ST IDRs to those issuers which do not have any rated short-term instruments when an ST IDR would nevertheless prove useful to the marketplace.